DEFINITION of 'Chartered Insurance Professional - CIP'
A professional designation granted by the the Insurance Institute of Canada to insurance agents in the property and casual segments of the industry. The designation was created to promote a standard in the field and gives agents professional standing in the field for the benefit of both employers and clients.
BREAKING DOWN 'Chartered Insurance Professional - CIP'
To obtain certification the applicant needs to write and pass 10 exams given by the institute. Once the certification is obtained the applicant must pay a yearly membership fee to retain the certification.