Our Mandate
Under the authority of the Financial Institutions Act, the Insurance Council regulates insurance agents, salespersons, and adjusters in BC with the overall goal of public protection.
The Insurance Council is responsible for:
Licensing. We ensure all insurance licence applicants meet minimum qualification standards for education and licence requirements.
Education and support. We establish standards of competency and ethical conduct, and provide guidance and support to licensees to fulfill their public protection obligations.
Discipline and Enforcement. We investigate complaints and, where warranted, discipline licensees when there has been a breach of the Financial Institutions Act, or the Insurance Council Rules and Code of Conduct.
Our Mission
Proactive regulatory leadership that ensures a qualified, competent, and ethical industry meets British Columbians’ insurance needs.
How the Insurance Council is Funded
The Insurance Council is fully self-funded. All revenue is derived directly from the insurance industry. Our primary sources of funding are licence and examination fees and an annual assessment fee that is in line with our equitable fee structure from insurance companies holding business authorities in BC.
How We Deliver our Regulatory Responsibilities
The Insurance Council has established administrative policies and procedures that govern how council members perform their responsibilities, in accordance with section 226 of the Financial Institutions Act.
Full-time staff, under the direction of an executive director, carry out the day-to-day operations of the Insurance Council.