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Membership

All applications must be approved by IBANB Board of Directors. Once approved you will be sent a letter confirming your membership status.

Full Member

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A Brokerage, whether a corporation, partnership or an individual, including their Subsidiaries, carrying on business in New Brunswick and which satisfy the criteria contained in the Membership Application Form, being Appendix A to these by-laws, may become a member of the Association.

A Brokerage is entitled to only one membership for the Brokerage and its Subsidiaries, which membership will be in the name of the Brokerage, regardless of how many corporations, partnerships, individuals, employees or offices are represented by the Brokerage and its Subsidiaries.

Fees*

Number of BrokersFlat Corporate FeePer Licensed Broker FeeSubtotal Max
1-15 $760.00 + HST $230 per employee $4,070 + HST
16-25 $760.00 + HST $205 per employee $5,315 + HST
26-50 $760.00 + HST $175 per employee $8,340 + HST
51-75 $760.00 + HST $150 per employee $10,400 + HST
76-100 $760.00 + HST $150 per employee $11,175 + HST
100+ $760.00 + HST $150 per employee $11,845 + HST

Associate Member

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The following qualify as Associate members:

  1. Persons who qualify for the designation of C.A.I.B., C.P.I.B. or C.C.I.B. and hold a valid “other than life” brokers license to transact general insurance under the Insurance Act of New Brunswick as an employee of a brokerage which is not a member and who satisfy the criteria contained in the Association’s Membership Application Form, being Appendix B to these by-laws;
  2. In the discretion of the Board, any other person, business  or Brokerage not able to meet the qualifications of an Associate member under paragraph (a) or do not come within the definition of Brokerage, but satisfy the criteria contained in the Associate membership Application Form being Appendix A to these by-laws.

NOTE:  Associate Members have no voting rights and are prohibited from using the Broker Identity Program logos and slogans of the Insurance Brokers Association of New Brunswick and the Insurance Brokers Association of Canada.

Fees*

Number of BrokersFlat Corporate FeePer Licensed Broker FeeSubtotal Max
1-15 $760.00 + HST $230 per employee $4,070 + HST
16-25 $760.00 + HST $205 per employee $5,315 + HST
26-50 $760.00 + HST $175 per employee $8,340 + HST
51-75 $760.00 + HST $150 per employee $10,400 + HST
76-100 $760.00 + HST $150 er employee $11,175 + HST
100+ $760.00 + HST $150 per employee $11,845 + HST

Individual Associate Member

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The following qualify as Individual Associate members:

  1. Persons who qualify for the designation of C.A.I.B., C.P.I.B. or C.C.I.B. and hold a valid “other than life” brokers license to transact general insurance under the Insurance Act of New Brunswick as an employee of a brokerage which is not a member and who satisfy the criteria contained in the Association’s Membership Application Form, being Appendix B to these by-laws;

NOTE: Associate Members have no voting rights and are prohibited from using the Broker Identity Program logos and slogans of the Insurance Brokers Association of New Brunswick and the Insurance Brokers Association of Canada.

Fee

$260 per applicant

Life Member

The Board may, in their sole discretion, grant Life Membership to a broker who has been active as an insurance broker for at least 25 years as a member of the Association or has rendered outstanding service to the Association.  The Board may, in their sole discretion, revoke any such membership at any time.  No membership fees are payable by life Members and they have no voting rights.

Honourary Member

The Board may, in their sole discretion, grant Honourary Membership to Past Presidents of the Association who are not engaged in the insurance business.  The Board may, in their sole discretion, revoke any such membership at any time.  No membership fees are payable by Honourary Members and they have no voting rights.