Special Brokers

Special Brokers

The requirements to carry on business in Saskatchewan as a Special Broker are outlined in The Insurance Act (the “Act”) and The Insurance Regulations (the “Regulations”). A Special Broker is a licensed insurance agent that is authorized to broker insurance from unlicensed insurers in certain circumstances.

In order to act as a Special Broker in Saskatchewan, you must apply from an endorsement.  In order to qualify for an endorsement, you must:

• have a valid Saskatchewan level 3 insurance agent licence as set out in the bylaws of the General Insurance Council of Saskatchewan; and
• provide and maintain financial security in the amount of $25,000 or in any greater amount that Superintendent may order, in one of the following forms: 
  • letter of credit; 
  • bond; 
  • any other form satisfactory to the Superintendent. 

Special Brokers are required to make monthly reports detailing the unlicensed insurance they have brokered each month. For those months where no unlicensed insurance has been brokered, the Special Broker is required to submit a “nil” report.

The application form, the monthly reports, and updates to your information, are made using FCAA’s “Registration and Licensing System” (RLS), a secure online system.  

Launch RLS to do the following:

• File an application for a special broker endorsement;
• File an annual return; and
• File an unlicensed premium tax submission.

The following documents provide guidance and instruction on how to use RLS and make the above submissions:

• RLS User Guide – Special Broker Endorsement
• Read the RLS Basics Guide
• RLS Basics – Adding a Delegated User