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2026 Revised Council Rule Amendments

Consultation on revisions to Council Rule amendments:

Rule 2(3)(a), 2(4)(a), 2(5)(c), 2(11)(c)(ii) 
Rule 5(1)(p)
On this page:
 

Background

In August 2025, Council proposed amendments to Council Rule 2(3), 2(4), 2(5)(c), 2(11)(c), Rule 5(1)(p) and the Council Rules Course definition. The amendments were introduced to enable the use of the General Insurance Competency Framework, define the range of fees for accrediting material submitted by education providers, and update the Council Rules Course definition.  
 
Following a review of feedback collected during the initial consultation, Council decided to amend the proposed changes for Rules 2(3)(a), 2(4)(a), 2(5)(c), 2(11)(c)(ii) and 5(1)(p) triggering additional consultation for the new amendments.
 
We are seeking feedback from licensees and stakeholders on revisions to the amendments.  

Current Status

The consultation on revisions to proposed amendments is open and will close April 27, 2026 (3pm PT).

Proposed Rule Wording

How to read the proposed amendments to the Rule:

  • Bolded text represents the addition of proposed wording.
  • Text that has been struck out represents wording proposed for removal.

See the proposed rule wording

Overview

Rule 2(3)(a), 2(4)(a), 2(5)(c) and 2(11)(c)(ii)  

  • A change to the education currency requirement from the initially proposed one year to two years. 

  • Clearer language referring to general insurance licence levels to include "salesperson" and “agent.”

  • Formatting changes to subsection numbering for internal consistency within the document.

Rule 5(1)(p)   

  • A change to the proposed maximum accreditation fee to $20,000 from $25,000.

  • Addition of clarifying language about how accreditation fees are calculated.  

Provide feedback

Summary of revisions to the proposed amendments

Rule 2(3)(a), 2(4)(a), 2(5)(c) and 2(11)(c)(ii)
What's changed and why?
The previously proposed amendments can be reviewed on the 2025 consultation page.
Proposed Rule wording
  • Change to the education currency requirement from the initially proposed one year to two years in response to stakeholder feedback, to better align with existing reinstatement provisions and reflect common industry recruitment and onboarding practices.
  • Revised wording to clarify references to general insurance licence levels, specifically  “salesperson” and “agent” within the Rule to ensure they are clearly understood, reducing ambiguity and the risk of misinterpretation.
  • Administrative and formatting changes to subsection numbering to improve readability, accuracy, and internal consistency within the Rule document. These changes are non-substantive and do not alter the intent of the proposed amendments.
Provide feedback

Rule 5(1)(p)
What's changed and why?
The previously proposed amendment can be reviewed on the 2025 consultation page.
Proposed Rule wording
  • Additional clarifying language has been added to explain how accreditation fees are established, including the distinction between Council’s authority to set fees and the role of the proposed maximum. This clarification is intended to improve transparency and reduce the risk of misinterpretation. The Council Rules establish the upper limit for fee amounts that can be set. By contrast, the actual fee amounts are set by Council on an annual basis and reflect the resources required to carry out those activities.
  • The maximum accreditation fee amount has been revised to $20,000 from $25,000. The proposed $25,000 maximum allowable fee was intended to provide flexibility to support future growth and capacity, including the ability to accommodate new licensing categories or education programs that may require more complex or resource‑intensive review. The $20,000 maximum now being proposed provides a less flexible, but a more conservative approach to the fee range. While the maximum range will apply across all accreditation programs, the fees set for each program will vary based on length and complexity.
Provide feedback

Rule Amendment Process

Proposed amendments to the Insurance Council Rules are subject to public consultation outlined in the Financial Institutions Act.  If Council makes revisions to a proposed Rule in response to the initial consultation period, an additional 30-day consultation period for the revised amendments will take place.

Consultation responses will be provided to voting members of Council. Council will then decide if the draft amendments require any additional revisions and if they are prepared to submit them for ministerial approval. If so, the proposed amendments and a summary of consultation feedback will be sent to the Minister of Finance for consideration. Submissions that include verifiable contact information (name, email, business) will be included in the package sent to the ministry for consideration.

How to provide your feedback


Consultation on proposed changes will begin on March 27, 2026, and will close on April 27, 2026 (3pm PT). You can provide your input through either of the options listed below:
 
All feedback about the proposed rule changes will be considered by the Insurance Council at the close of consultation. In addition to the feedback form results, submissions that include verifiable contact information (name, email, business) will be provided to the Minister of Finance for consideration.

As a public body, the Insurance Council of BC is subject to the Freedom of Information and Protection of Privacy Act (FIPPA) and other provincial and federal privacy regulation. 

Contact us


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