On December 4, 2014, ChAD submitted a set of proposed amendments to the mandatory continuing education provisions. The RCCAQ notes that this proposal could drive up costs for firms in connection with employee training requirements.

Currently, you are able to:

• Select suppliers who will administer your compliance training.
• Select the training delivery method (in-house, online, at the supplier's premises, etc.).
• Evaluate the pricing structure (this training is sometimes provided free of charge) in order to determine suppliers in line with your budget.

Following CHAD's proposed changes to the professional development requirements, as of January 1, 2016:

• All certified employees will be required to complete 2 out of 3 PDUs via ChAD's compliance training.
• We estimate that if the training costs remain at their current level (ChAD now charges $35 per PDU), it will cost $70 per certified employee to complete the 2 compliance PDUs imposed by ChAD.
• Brokers will have to find a supplier to complete the 3rd compliance PDU in order to meet the requirements.

In order to calculate the costs for your firm in connection with this proposal, we have developed the following calculation tool. Simply modify the number of employees in the appropriate sections of the Excel spreadsheet to obtain an overview of the costs.

Rest assured that the RCCAQ will continue to put pressure on ChAD and various government bodies in order to defend insurance brokers' interests in this regard.