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Terms of Reference for IBAC Designations
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Amended September 20, 2001
  1. The right to obtain an IBAC designation will be restricted to successful candidates who, at the time IBAC grants the designation, are employed by a property and casualty insurance brokerage and are members in good standing of an IBAC member association (such as IBAA).
     
  2. At the sole discretion of IBAC and member associations, non-members and/or non-brokers shall be allowed to complete any program offered by IBAC. Upon successful completion, such non-members and/or non-brokers will be entitled only to Certificates of Completion.
     
  3. The right to use and maintain any IBAC designation shall continue only while such person is employed by a property and casualty insurance brokerage acceptable to the IBAC Board of Directors and the brokerage continues to be a member in good standing of a member association that itself is a member in good standing of IBAC.
     
  4. A licensed property and casualty insurance broker, having earned a Certificate of Completion or an IBAC designation, who is an employee (not a principal) of a property and casualty insurance brokerage that is not a member of an IBAC member association will be allowed to obtain membership or associate membership with the appropriate IBAC member association, failing which that person's right to use such IBAC designation will be terminated.
     
  5. The granting of member and/or associate member status is at the discretion of the member association and shall be in accordance with and subject to the applicable member association’s bylaws, rules, regulations, and guidelines.
     
  6. The administration of membership and associate membership is the responsibility of the applicable member association.
     
  7. All candidates must be granted the permission to use IBAC designations through specific election by the IBAC Board of Directors.
     
  8. Employees of IBAC or its member associations who have successfully completed the prescribed examination requirements may hold an IBAC designation as long as they remain so employed.
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