Licensing Fees



The Insurance Council is mandated by the BC Government to regulate the conduct of insurance intermediaries, and derives all funding for its regulatory work, licensing, and oversight activities for insurance intermediaries in the province of BC through fees collected from the industry, under the authority of the Financial Institutions Act.

Fees can be paid online via the Insurance Council portal by credit card (Visa or Mastercard only) or Canadian debit card. Electronic Fund Transfer (EFT) is only available for a minimum of 40 licence renewal bulk payments by corporations.

Insurance Council fees are non-refundable. For applications that have been withdrawn, denied, or otherwise closed, only the government fee will be refunded.

The government fee is collected on behalf of BC Financial Services Association (BCFSA) under the authority of the Financial Institutions Fee Regulation.


Fee Schedule

Individual Licence Fees


Current fees ending March 31, 2024

Type
Insurance Council Fee
Government Fee
Total Amount
Individual licence application
 
$275 $25 $300
Individual licence reinstatement application
 
$275 $25 $300
Additional fee for licences issued March 1 to May 31
 
  $25 $25
Individual annual licence renewal
 
$260 $25 $285
Additional fee for late individual annual licence renewal
 
$200   $200
Individual or sole proprietor legal name change
 
  $50 $50

 

New fees as of April 1, 2024

Type
Insurance Council Fee
Government Fee
Total Amount
Individual licence application
 
$325 $25 $350
Individual licence reinstatement application
 
$325 $25 $350
General insurance trainee application
 
$100   $100
Licence upgrade application
 
$190 $25 $215
Additional fee for licences issued March 1 to May 31
 
  $25 $25
Individual annual licence renewal
 
$300 $25 $325
Additional fee for late individual annual licence renewal
 
$260   $260
Individual or sole proprietor legal name change
 
$50 $50 $100

Agency/Firm Licence Fees


Current fees ending March 31, 2024

Type
Insurance Council Fee
Government Fee
Total Amount
Agency/firm licence application
 
$800 $25 $825
Additional fee for licences issued March 1 to May 31
 
  $25 $25
Agency/firm annual licence renewal
 
$500 $25 $525
Additional fee for late agency/firm annual licence renewal
 
$350   $350
Agency/firm legal name change
 
  $50 $50
Addition or removal of agency/firm trade name
 
  $50 $50

 

New fees as of April 1, 2024

Type
Insurance Council Fee
Government Fee
Total Amount
Agency/firm licence application*
 
$875 $25 $900
Additional fee for licences issued March 1 to May 31
 
  $25 $25
Agency/firm annual licence renewal
 
$550 $25 $575
Additional fee for late agency/firm annual licence renewal
 
$500   $500
Agency/firm legal name change
 
$50 $50 $100
Addition or removal of agency/firm trade name
 
$50 $50 $100
Amendment to corporate ownership due to merger and acquisition*
 
$800 $50 $850
Register material changes of ownership (controlling shareholders)
 
$125 $50 $175

 

*The agency/firm licence application fee applies where a merger (amalgamation) results in the creation of a new agency.

 

Course Fees

(mandatory courses related to licence)

Course
Amount
Council Rules Course (life and/or accident & sickness insurance)
 
$100
Council Rules Course (general insurance and adjusters)
 
$100
Nominees Responsibilities and Best Practice Course (life and/or accident & sickness insurance)
 
$150
Nominees Responsibilities and Best Practice Course (general insurance and adjusters)
 
$150

Other Transaction Fees

Type
Amount
Licence information list*
 
$300
Insurer fee**
 
10x Insurance Council agency/firm
annual licence renewal fee
Request for copying, printing or scanning
 
$1 per page

 

*A complete list of all licensees, which includes licensee names, business addresses (if available), and employers (if applicable). Requests for a licence information list must be submitted to the Licensing team via email at licensing@insurancecouncilofbc.com.


**The Insurance Council collects an annual insurer fee from insurers authorized to conduct insurance business in BC as stated in the Financial Institutions Act.

LLQP Exam Fees

Examination fees are forfeited if the examinee fails to attend or reschedule a scheduled examination before its rescheduling deadline. If the examinee is unable to attend a scheduled exam due to a medical reason, they may reschedule their exam by submitting a written request along with a doctor’s note to the Examinations team for consideration.

For exams in Metro Vancouver, see the Exam Schedules for change deadlines.

For exams in BC regions outside of Metro Vancouver, examinees must contact the individual test centre directly to reschedule/cancel their exam(s), and notify the Insurance Council of the cancellation by cancelling the exam(s) through their online portal account. If the cancel notification is not provided at least 14 calendar days before the scheduled exam, examinees automatically forfeit the exam fee paid to the Insurance Council. Proctor rescheduling fees may apply as determined by the individual test centre, please review the test centre’s terms and policies for their rescheduling/cancellation procedure.

 

Metro Vancouver

Exam Module
Amount
Full-day package (all four modules)
 
$145
Life insurance
 
$55
Segregated funds and annuities
 
$55
Accident & sickness insurance
 
$55
Ethics and professional practice (common law)
 
$55
Ethics and professional practice (civic code - Quebec)
 
$55
Rewrite of a single module
 
$55


















*Only applicable to examinees writing all four modules in one day in Metro Vancouver (Vancouver or Surrey).

BC Regions Outside of Metro Vancouver

Exam Module
Insurance Council Fee
Proctor fee*
Life insurance
 
$55 Approximately $80 + GST
Segregated funds and annuities
 
$55 Approximately $80 + GST
Accident & sickness insurance
 
$55 Approximately $80 + GST
Ethics and professional practice (common law)
 
$55 Approximately $80 + GST
Ethics and professional practice (civic code - Quebec)
 
$55 Approximately $80 + GST
Rewrite of a single module
 
$55 Approximately $80 + GST

*Proctor fee determined by the individual test centre, and is paid directly to the test centre.