Will there soon be a consistent approach to adjuster licensing across Canada?Legislation & Regulation
New Brunswick is one province moving towards that goal. Earlier this month, the Insurance Division of New Brunswick’s Financial and Consumer Services Commission released a consultation paper on licensing of adjusters and damage appraisers in the province, with proposed changes to the definition of an adjuster as well as the removal of one licence level.
The Commission, New Brunswick’s insurance regulator, is undertaking a comprehensive review of the current licensing regimes, nearly a decade after the current Adjusters Regulation was implemented on July 1, 2009.
“The goals are to ensure that the regimes are current, enhance consumer protection and remove any unnecessary administrative burdens,” the Commission said in the paper. “The commission also wishes to increase harmonization with other provinces.”
In New Brunswick, the Insurance Act requires that adjusters – both independent and staff adjusters employed by an insurance company – hold a licence.
The Commission reviewed adjuster licensing regimes in other Canadian jurisdictions. It found that there is no consistency regarding staff adjusters’ licensing. Some jurisdictions, like New Brunswick, require staff adjusters to be licensed, others do not. “The Commission proposes to continue requiring staff adjusters to be licensed because we believe that it enhances consumer protection.”