Apply for an insurance broker licence

  1. Know which licence to apply for in Yukon
  2. Determine if you're eligible
  3. Complete the application form
  4. Provide all other supporting documents required
  5. Pay your fees
  6. Submit your application, supporting documents and fees
  1. Know which licence to apply for in Yukon

    4 different insurance professions are regulated in Yukon:

    • insurance agents;
    • insurance brokers;
    • insurance salespeople; and
    • insurance adjusters.

    The services these professions offer in Yukon may be different than in other regions.

    Before you apply, review the information below to make sure you apply for the correct licence.

    Insurance broker

    In Yukon, an insurance broker:

    • acts as a go-between for insurers and the insured;
    • works independently and typically does not represent a single insurer;
    • does not require permission from an insurer to sell their products; and
    • cannot provide life or accident and sickness insurance.

    Insurance agent

    In Yukon, an insurance agent:

    • acts as a go-between for an insurer and the insured;
    • typically represents 1 insurer but can represent more;
    • has received permission from insurers to sell their products; and
    • is the only insurance professional working in the territory that can provide life, and accident and sickness insurance.

    Insurance salesperson

    In Yukon, an insurance salesperson:

    • is employed and supervised by a licensed insurance agent or broker;
    • is paid a salary and does not receive commission;
    • can solicit insurance, negotiate insurance or renewals, and collect and receive premiums for their employer.

    Insurance adjuster

    In Yukon, an insurance adjuster:

    • investigates insurance claims;
    • makes recommendations on insurance policy payments; and
    • negotiates payments and settlements.

     

  2. Determine if you're eligible

    All insurance brokers working in Yukon must hold a current Yukon licence.

    We accept new applications on an ongoing basis. But you must renew your licence every year. All insurance broker licences expire annually on September 30.

    Types of licences

    In Yukon, insurance brokers can apply for 2 types of licences. Both licence types allow brokers to offer all classes of insurance, except life, and accident and sickness insurance.

    General insurance broker licence

    This licence is for brokers who will only work with insurers licensed in Yukon.

    Special insurance broker licence

    This licence is for brokers who will work with insurers that are not licensed in Yukon.

    Eligibility

    You're eligible to register and apply if you meet the following requirements.

    • You're not an agent of an insurance company.
    • You live in Canada.
    • You hold a current insurance broker licence in another Canadian or US jurisdiction (your "home" jurisdiction).
    • You're in good standing in your home jurisdiction.
    • You only apply for the same classes of insurance that you hold in your home jurisdiction.
  3. Complete the application form

    Applicants must complete either:


    Complete all sections of the application form. Do not leave a section blank. You may enter "not applicable" when it's relevant.

    Tips

    • Be sure you fill out the correct form.
    • Mark on the top of the form whether you're applying for:
      • a resident; or
      • a non-resident licence.
    • Choose non-resident if your home jurisdiction is outside of Yukon.
    • Sign the affidavit section in front of a notary public and then have the notary sign and witness.
    • Send us the original application form and keep a photocopy for your records.
    • We do not accept photocopies of the application form.
    • We may return incomplete applications.
  4. Provide all other supporting documents required

    Gather together the following documents and provide these with your complete application package.

    Current photo ID

    • Provide 1 copy of current photo ID.
    • The ID must be issued by a territorial, provincial or federal government body.
    • The ID must show your current legal name.
    • We do not accept a healthcare card as a form of ID.

    Criminal record check

    • Visit your local RCMP or police detachment to request a check.
    • The RCMP or police must complete the check no more than 90 days before you submit your application.
    • Ask the RCMP or police to send the results directly to your mailing address or make the results available for pickup.

    Proof of standing

    We only require this from applicants who hold an insurance broker licence in another Canadian or US jurisdiction.

    • We accept the following as proof of standing:
      • a recent printout from your home regulator’s online register;
      • a copy of your insurance broker licence from your home jurisdiction;
      • a certificate of authority from your home regulator; or
      • any combination of the above.

     

    • You must ensure this documentation shows all of the following:
      • your name;
      • your licence number;
      • the class(es) of insurance you are licensed to sell; and
      • your current licence status or licence expiry date.

    Proof of surety

    We only require proof of surety from special broker licence applicants.

    • An insurance company licensed in Yukon must issue the surety bond.
    • Surety must be for at least $5,000.
    • We accept photocopies of the bond as proof.
    • The bond must be made out to the Superintendent of Insurance in Yukon.
  5. Pay your fees

    Fees

    Non-residents

    These annual licence fees apply if your home jurisdiction is outside Yukon.

    • General insurance broker annual licence fee: $100.
    • Special insurance broker annual licence fee: $400.

    Residents

    These annual licence fees apply if Yukon is your home jurisdiction.

    • General insurance broker annual licence fee: $50.
    • Special broker annual licence fee: $200.

    Payment method

    You can pay your fees by cheque or credit card. Complete the payment information form and include this and your fees with your application.

  6. Submit your application, supporting documents and fees

    Submit your entire application package. This must include:

    • your completed application form;
    • all required supporting documents; and
    • your payment form and licence fees.

    We typically process applications within 10 business days. We will confirm you have met all legal requirements before issuing a licence.

    We may return your application if you have not provided all the required documentation.

    Submit your application package

    • In person or by courier at 307 Black Street, Whitehorse, Y1A 2N1. We are open Monday through Friday from 8:30 a.m to 4:30 p.m.
    • Mail:
      Government of Yukon
      Professional Licensing and Regulatory Affairs (C-5)
      Box 2703
      Whitehorse, YT Y1A 2C6

Contact 

For questions about applying for an insurance broker licence, email: insurance.plra@gov.yk.ca or phone: 867-667-5111 or toll free in Yukon 1-800-661-0408 ext. 5111.