Licensure and Other Employment/Business Activities

The potential for conflict of interest is considered as a part of the application process for insurance licensing as well as ongoing licensed practice.

Most other employment or business activities have no impact on a licensee’s insurance activities, and in most cases, concerns can be addressed by imposing conditions or restrictions on an insurance licence. However, there are a number of business activities where the potential for a conflict of interest is so significant that the Insurance Council is not prepared to issue a licence.

Licensees' Professional Responsibilities on Conflict of Interest

For information about licensees’ professional responsibilities regarding conflict of interest, see:

Insurance Council Code of Conduct
Other Business Activities and Conflict of Interest

After You Get Your Licence

After your application is approved, licensees should periodically review the List of Other Employment and Business Activities Considered by Council to keep up-to-date with Council decisions.

Even if your business activities are not on the list above, use discretion to ensure they do not have the potential to create a conflict of interest.

If you start or are engaging in business activity similar to one on the List of Other Employment and Business Activities Considered by Council: 

  • Immediately notify the Insurance Council using the Request for Review of Other Business Activities form. We will review the information and determine what follow-up action is appropriate.

  • Immediately modify your insurance activities in accordance with the licence conditions outlined in the List of Other Employment and Business Activities:

    • If a complaint arises that is related to the business activity, directly or indirectly, licensees who do not modify their insurance activities could have their suitability reviewed.

    • If licensees are found to have acted in a conflict of interest based on their business activity, they can be subject to disciplinary or other action as warranted.

‚ÄčIf you start a business activity after you get your licence and it is not a business activity similar to one on the list above where the Insurance Council has declined to issue a licence,  you do not have to notify the Insurance Council. 

Licensees are always welcome to submit a Request for Review of Other Business Activities form.