The Insurance Council of BC is governed by a council of industry and public representatives. Council members are appointed under the Financial Institutions Act
and have the overall responsibility for carrying out the Insurance Council's mandate and overseeing its operations. Council works actively to ensure the organization meets its goals set out in the Insurance Council's strategic plan
Council has two main responsibilities:
- Regulatory: Council establishes regulatory policies, procedures, practices and initiatives regarding education, licensing qualifications, licence applications, investigations, and disciplinary matters and participates in active decision-making in these areas; and
- Organizational oversight: Council acts as the Insurance Council’s board of directors, overseeing the Insurance Council’s administration, operations and financial affairs.
Council is composed of 11 voting members and an unlimited number of non-voting members.
The 11 voting members appointed by the Lieutenant Governor in Council comprises of:
- two representatives from general insurance companies
- two representatives from life insurance companies
- two licensed general insurance agents or salespersons
- two licensed life insurance agents
- one licensed insurance adjuster
- two representatives of the public
Non-voting members are appointed by the Minister of Finance.
Council voting and non-voting members
Interested in becoming a member of Council?
Learn more here