- Requirement for a nominee: A firm must nominate an insurance adjuster level 3 to act as nominee who will take on the rights and privileges of the agency licence, and is responsible and accountable to the Insurance Council for all insurance activities undertaken by the firm and its employees:
- A nominee must be an officer, director, or partner of the adjusting firm, or a senior manager of the adjusting firm for the Province of BC.
- An intended nominee must hold a level 3 insurance adjuster licence in British Columbia; qualification requirements for a level 3 insurance adjuster licence can be found here.
- If the agency or firm is changing the nominee, please submit an Agency Nominee Amendment Application Form. The form is available here, under Agency Nominee Change.
- Effective August 1, 2023, new nominees must be approved by the Insurance Council and have taken the prerequisite course: Nominee Responsibilities and Best Practice. The course is administered by the Insurance Council and is available in two streams:
- Nominee Responsibilities and Best Practice Course for General Insurance and Adjuster Nominees and Applicants
- Nominee Responsibilities and Best Practice Course for Life and/or Accident & Sickness Nominees and Applicants
Current nominees do not need to take the nominee course unless they are submitting a request to be appointed as a nominee for another agency or firm.
More on how to register for the course here.
- Requirement for office supervision: Each branch of the firm must be under the direct supervision of a level 3 adjuster. All supervising level 3 adjusters are responsible and accountable for overseeing the work of those in their area of responsibility and for establishing and maintaining office procedures that foster competent and ethical insurance adjusting. The firm’s nominee is responsible for determining what constitutes adequate supervision at each branch of the firm, taking in to account:
- The number of adjusters working in the office.
- The levels of licenses and experience of the adjusters.
- The extent of written procedures.
- Council Rules and Council’s Code of Conduct.
- Business name requirements for agencies and firms: All agencies and firms licensed by the Insurance Council must conduct business under names that are properly registered, accurately represent the business, and comply with all regulatory requirements. This includes both:
- Corporate legal names
- Official registered name of the business as it appears on incorporation records.
- Trade / operating / doing business as (DBA) names
- Name(s) used publicly that may differ from the corporate legal name.
- May be a shortened or modified version of the corporate name.
- Often, the name clients commonly associate with the business.
Both corporate and trade names must be approved by the Insurance Council before they may be used in licensing, advertising, or client-facing activities.
Businesses may operate under more than one trade name, provided each name is registered and approved by the Insurance Council.
- Corporate and trade name registration requirements: Under the Insurance Council Rules and the Financial Institutions Act (the “Act”), agencies and firms must ensure that business names:
- Are registered with the BC Registry.
- Are submitted to the Insurance Council for review and approval.
- Do not resemble the name of an insurer, another licensed insurance agency, adjusting firm, or another licensed business in a way that may confuse or mislead.
- Do not imply that the business is an insurance company.
Use of terms “Insurance,” “Assurance,” or “Insurer”
Section 12.1 of the Act restricts the use of these terms in a business unless that name is not likely to cause the public to believe the entity is an insurance company. As this provision falls under the jurisdiction of the BC Financial Services Authority (BCFSA), more information on restricted terms and name requests can be found on the
BCFSA website.
- Requirements for trade, DBA, and operating names: all trade, DBA, or operating names must meet the following criteria:
- Must be registered with the BC Corporate Registry.
- Must not be the same as, or similar to, another licensed agency, adjusting firm, or approved trade name.
- Must not be similar in sound, spelling, or appearance to another licensee’s business name.
- Must not be differentiated only by minor changes from another licensed name (ie: adding/removing one or two letters, punctuation, or spacing).
- May not be approved if concerns are raised by third parties regarding similarity or confusion.
- Must not lead the public to believe the business is an insurance company.
- Must not imply specialized expertise unless the business and its authorized representatives are properly qualified.
- Must not use terms such as ‘financial planner’ unless requirements for that title are met.
- Must not use the term ‘and Associates’ unless the business includes two or more licensed individuals.
- Online presence and domain names
- Domain names must not duplicate or closely resemble another licensee’s legal name or trade name.
- Must only use Council-approved names in advertising, public representation, and online presence.
- Changing a corporate or trade name: Licensees must notify the Insurance Council within 5 business days of:
- A change to the corporate legal name, or
- A new, updated, or discontinued trade/DBA/operating name.
Name approvals are governed by the Insurance Council Rules applicable legislation, and the Code of Conduct.