Chartered Insurance Professional (CIP)

Published: | Updated: May 21, 2016;

Definition - What does Chartered Insurance Professional (CIP) mean?

A chartered insurance professional (CIP) is a property and casualty insurance specialist who has received the proper qualifications from the Insurance Institute of Canada. To be qualified to become a CIP, an individual must pass a series of 10 exams given by the Insurance Institute of Canada.

Insuranceopedia explains Chartered Insurance Professional (CIP)

The benefit of becoming a chartered insurance professional is that it increases credibility and earning potential in the Canadian insurance field. As with many other industries, the more highly qualified one is, the more one can expect to be paid for their services. To maintain the status of CIP, one must pay an annual fee. These professionals commonly earn salaries one and a half times that of insurance agents who do not have the same certification.

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