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ARTICLE · 23 NOVEMBER 2023

Changes To Licensing Required For Insurance Intermediaries Conducting Business In The Yukon

This past summer, the Yukon Professional Licensing and Regulatory Affairs (the Yukon Regulator) launched a new insurance agency licence (Agency Licence) for insurance intermediaries...

CanadaInsurance

This past summer, the Yukon Professional Licensing and Regulatory Affairs (the Yukon Regulator) launched a new insurance agency licence (Agency Licence) for insurance intermediaries conducting business in the Yukon. Historically, the Yukon Regulator only issued insurance agent licences to individuals conducting insurance agent business on behalf of insurance intermediaries (meaning insurance agencies or managing general agents) in the Yukon.

All insurance intermediaries already represented by a licensed insurance agent in the Yukon at the time of the introduction of the Agency Licence, such intermediaries, were automatically issued Agency Licences by the Yukon Regulator (which we understand expires September 30, 2024). However, any insurance intermediaries that are not currently represented by a licensed insurance agent in the Yukon, and who plan to seek licensing in the Yukon, must apply for an Agency Licence.

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