Annual Filing

 

Annual filing for all licensees opens April 1, 2020. The deadline to complete your annual filing is June 1, 2020.

Filing is done through the Insurance Council's Online Portal and consists of:

  1. Completing the Filing Declaration; 
  2. Remitting the Annual Filing Fee.

 

Proceed to Annual Filing Login

 

Who Needs to Complete Annual Filing?

All insurance licensees must submit an annual filing declaration and filing fee for each licence held, whether their licence status is active, inactive, or suspended. The filing deadlines and fees are the same for all licensees, regardless of the class of licence held. All licensees must submit a declaration, regardless of who pays the annual filing fee. 

Nominees are reminded that an annual filing and filing fee is  required for each corporate licence, in addition to their own individual licence.


How Much Is The Annual Filing Fee?

Received by prior to June 1, 2020: $225  (includes Government Fee)
Received by prior to July 31, 2020*: $250  (includes Government Fee and $25 late fee)


*Licensees who have not submitted their filing(s) by July 31, 2020 will have their licence(s) automatically terminated.

If your agency is paying your filing fee, you are still responsible for submitting your declaration as part of your annual filing. It is the responsibility of the individual licensee to ensure that the filing fee is received by the Insurance Council, even if their agency is submitting the payment on their behalf


How Do I Submit My Annual Filing?

Due to COVID-19, the Insurance Council's office is closed to the public. We are not accepting filing submissions or payment in person, by mail, or by courier at this time.

  • Sign into Council's online portal
  • Complete a filing declaration and pay your annual filing fee with Visa, Mastercard, or Interact Online debit. (If your agency is submitting your fee, follow-up with your agency to confirm that the fee has been paid).

Detailed instructions for individual filings and bulk filings are available. More information and an FAQ for the Online Portal can be found here.

 

Have Questions?

The answers to many frequently asked questions are below or you can contact the filing support team at filingsupport@insurancecouncilofbc.com or by calling 604-688-0321 or 1-877-688-0321 (toll-free within Canada) and dialing extension 5. 

 

Proceed to Annual Filing Login

 

Council understands that COVID-19 has had a significant impact on the way that insurance agencies and firms are conducting their day-to-day business and will continue to change the landscape of the insurance agency. As Council is a self-funded regulatory body, we are proceeding with the 2020 annual filing season as scheduled in order to be able to fulfill our regulatory mandate, but we will continue to monitor the situation and advise our licensees of updates as required.

As Council's office is closed, all annual filing payments must be submitted via the online portal. Council cannot accept payments in person or by mail this year.

Licensees can contact regulatoryservices@insurancecouncilofbc.com with any questions relating to continuing education and errors and omissions insurance coverage during the annual filing period.
 

If you created a new portal account, your licence was not successfully linked to your portal account. You have two options:

  1. If you used the online portal to complete your 2019 annual filing, you can access your old portal account by using the I've forgotten my password option and answering your security question.
  2. If you no longer have access to the email address associated with your old portal account, you can send an email to filingsupport@insurancecouncilofbc.com and Council will link your licence to your new portal account. In the email, please include your full legal name, your date of birth, and the email address associated with the new account that you created.

As part of your annual filing, you will be asked to agree to the following statement:

By submitting this annual filing, I confirm that I understand:


If you have any questions with regard to this declaration, please contact regulatoryservices@insurancecouncilofbc.com
  • Regular Deadline: Annual filing received by Monday June 1, 2020 — Fee is $225.00
  • Late Deadline: Annual filing received after Monday June 1, 2020 to Friday July 31, 2020 — Fee is $250.00. This includes the late filing fee of $25.00, per Council Rule 4(c)
  • If an Annual Filing is not received by July 31, 2020, the licence will be terminated on August 1, 2020, per Council Rule 4(d)
  • Credit card (Visa or Mastercard) or debit (Royal Bank or TD only)
  • Electronic fund transfer (bulk payments by corporations only)

As Council's office is closed due to COVID-19, payments can not be made in person and Council is not receiving any mail or couriers.

Where a licensee has not met the filing requirements by July 31, 2020, the licence will be automatically terminated for non-filing. If your licence is terminated for non-filing, you are not permitted to conduct insurance business in British Columbia until Council has approved your licence application.

For more information about reinstating an insurance licence, please review the Reactivation Provision.

If you hold more than one licence with Council, you are required to submit an annual filing and a filing fee for each licence.
It is the nominee's responsibility to submit an annual filing and filing fee for the corporation. If the corporation is licensed for general and life insurance, two annual filings and two annual filing fees are required. The nominee is also required to submit an annual filing and filing fee for each of their own individual licence(s).

If your licence was issued between March 1 and May 31, 2020, your first annual filing date is June 1, 2021; therefore, you do not need to submit an annual filing this year. 

Detailed instructions on submitting a filling online are availlable here.
Due to COVID-19, Council's office is closed. Council is not accepting payments in person, by mail, or by courier at this time.

You can confirm that your annual filing has been received and payment has been processed, by checking the Licensee Directory. Search for your name in the Licence Directory and view the insurance licence details. Under Next Filing Date for your licence, it should display "June 1, 2021" if your filing is complete and the payment processed.

Licensees can also log into their online portal accounts and print an updated licence certificate from the main menu.

Each licensee is responsible for completing the online declaration and can select the option that their agency will submit the fee on their behalf. Please confirm this with your agency before you start the filing process.

It is the responsibility of the individual licensee to ensure that the filing fee is paid and received by the Insurance Council, even if the licensee's agency is submitting the payment on their behalf.
 

Agencies will need to ask their licensees to sign into the online portal and submit the filing declaration through their individidual portal account. When the agency logs into their online portal account, they can then submit payment for all of the licensees whose status shows in the list as "Pay Fees Due" via Visa, Mastercard, or electronic fund transfer. Click here to access instructions on how an agency can use the portal.

Yes, your insurance licence remains valid until August 1, 2020. If we have not received your annual filing by the end of the day on July 31, 2020, your licence will be automatically terminated.
Licensees were granted an extension on CE until May 31, 2021 due to COVID-19. If you have any questions regarding this extension or the CE requirements for your licence, please contact the Regulatory Services department.