Quebec Draft Regulation respecting the Issuance and Renewal of Representatives’ Certificates 

 

After industry consultation, the AMF has issued a revised draft Regulation which sets out the conditions that must be satisfied to obtain a representative's certificate in the sectors of insurance of persons, group insurance of persons, damage insurance, claims adjustment and financial planning. The purpose of the revisions is to recognize certain industry realities and to increase the number of candidates able to apply for licenses.  Changes have been made to minimum qualifications such that the AMF will recognize “equivalent competencies” of candidates who do not possess the minimum qualifications. The regulation also clarifies that a level of education equivalent to a secondary school diploma would henceforth be accepted as minimum qualification in respect of accident and sickness insurance. Also, the validity of examinations would be extended from 18 months to two years.  The draft regulation and explanatory notes can be found on the AMF website. (click here to view)