LLQP (Life Licence Qualification Program) exam prerequisites, course information, and other life insurance licence qualifications and requirements for individuals, partnerships, or corporations in BC.
Council makes every effort to keep the LLQP information regularly updated. Please check back often.
Council is here to help. Your insurance licensee resources include compliance information such as licensee responsibilities; council rules; continuing education; disciplinary decisions and process; and other useful information for licensed individuals, partnerships, or corporations in BC.
Council makes every effort to keep insurance licensee resources regularly updated. Please check back often.
To ensure that the Insurance Council Rules continue to provide an effective regulatory framework for the oversight of insurance licensees and their business practices, we are conducting a comprehensive review of the Rules. We will be engaging our licensees and stakeholders as a part of this multi-year initiative.
See past status update info
Under the Financial Institution Act Regulations, proposed changes to Insurance Council Rules are subject to public consultation. As a part of the consultation process for each group of proposed rule changes, the following will be made available to the licensees, the public and other stakeholders:
This information for each group of rule changes will be made available as they are confirmed for consultation by the voting members of Council.
Feedback on proposed rule changes will be collected and provided to the voting members of Council, and ultimately to the Minister of Finance, should the rule changes be submitted for her approval.
Rules are being reviewed based on strategic priority and regulatory impact. Since the start of the initiative, updates to the following Council rules have been brought forward:
2022 Spring Consultation
Status: Consultation on proposed amendments to the Council Rules for 2022 was carried out March 28-June 1, 2022. A summary of consultation results for 8 different rule amendment topics has been provided to Council for its consideration and decision. The topics include: Level 3 Agent and Adjuster Qualifications, Nominee Qualifications, Business Registration and Name Requirements, Licence Reinstatement, Licence Renewal, Direct Supervision, Conflict of Interest, and Life Agent Supervision.
Rule 6(1)(b) Location Restrictions for Level 1 General Insurance Licence
Status: Public consultation and review by voting Council complete. Amended rule has been submitted for ministerial approval and has received consent from the Minister of Finance. The amended Rule 6(1)(b) takes effect in June 14, 2022, replacing the temporary rule.
Rule 5 Fees
Status: Public consultation and review by voting Council complete. Amended rule has been submitted for ministerial approval and has received consent from the Minister of Finance. The amended Rule 5 took effect September 20, 2021.
Information about the Council Rules Review Initiative will be available on this webpage, and updated throughout the life of the project. If you have questions about this initiative, or the processes involved, contact us at firstname.lastname@example.org.
Last updated August 29, 2022