Insurance Council

Question 1

What are the functions of the Insurance Council of Manitoba?

Answer 1

1. Administers the regulatory legislation governing insurance agents/broker.
2. Enforces established standards
3. Promotes high

Question 2

How many levels of Insurance Broker Licence are available?

Question 3

Explain what a broker at each level is authorized to do?

Question 4

What restrictions are placed on each level of licence, if any?

Question 5

What is the retirement for Broker’s Errors and Omissions insurance?

Question 6

Explain each of the following sections from the Code of Conduct :
a. Integrity
b. Competence
c. Quality of Service
d. Advising Clients
e. Confidentiality
f. Encourage Public Respect
g. Manner of Service
h. Maintain Integrity
i. Unauthorized practice of profession
j. Conduct towards others
k. Safekeeping and preserving of property
and records.

Question 7

What could be the consequences to a broker if the broker does not follow the rules an regulations of the ICM?