Consultation on Rule Amendments


Learn more and provide your feedback about proposed changes to the Insurance Council Rules
On this page:

Current status

Consultation on the proposed rule amendments for 2022 closed on June 1 and further revisions to Rules 2 and 4 closed on September 30, 2022. Stakeholder feedback is being considered by the Insurance Council’s voting members.

What is this about?

As a part of a multi-year project to modernize the rules that set out the licence conditions and requirements for all BC insurance licensees, the Insurance Council is consulting on a number of changes to the Council Rules at this time.

For background information on the Council Rules Review Project and past rule amendments, see the project page.

Which Rules are proposed for amendment?

The following rules are proposed for amendment. Click on each topic to see more detailed information about the proposed change and rationale.
 

Nominee Qualifications  Rule 2(11), 2(11.1), 2(12)
Licence Renewal  Rule 4(4)(b), (c) and (d)
 
Level 3 Agent and Adjuster Qualifications  Rules 2(5), 2(8)
Business Registration and Name Requirements  2(18)
Licence Reinstatement  Rule 2(19)
Direct Supervision  Rule 6(1)(c) and 6(2)(b) 
Conflict of Interest  Rule 7(11.2) 
Life Agent Supervision   Rule 10(1) to 10(12), Rule 7(16.1), 7(16.2), 7(17.1), 7(17.2)

Rule amendment process/timeline

Contact us

For questions about the proposed rule amendments or stakeholder engagement please contact us at:
rules.consult@insurancecouncilofbc.com