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Rule consultation: Licence transition


This new Rule cancels existing licences within the specified licence class.
 

Proposed rule wording

How to read the proposed wording changes to the Rules:

Bolded text represents the addition of proposed wording.

Text that has been struck out represents wording proposed for removal.


Download full proposed rule amendments document (.pdf)

Rule 9 | Transitional provisions

Along with the repeal of Rule 1(1)(e), Rule 9(2) is being introduced to phase out the existing Restricted Travel Insurance Agency licence. It will support transition to and the implementation of the new RIA licence.


What is the proposed change?

Proposed Rule 9 cancels existing Restricted Travel Insurance Agency licences on a specified date.

Rule 9(2): What are the impacts?

Rule 9(2) will only impact those existing restricted travel insurance licence holders who have yet to transition to an RIA licence by Dec 31, 2027. The existing licence will be cancelled on Dec 31, 2027.


Rationale

Rule 9(2) addresses the administrative need for cancellation of existing licences for a licence class that is being discontinued in order to bring incidental sales of travel insurance under a single RIA licensing regime.

see the proposed word ruling

How to provide your feedback

Consultation on proposed changes will begin on February 10, 2026, and will close on April 27, 2026 (3pm PT). You can provide your input through either of the options listed below:
Feedback form             Send email
 

All feedback about the new and 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

Return to the Consultation main page

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