I obtained my licence between March 1 and May 31. Am I required to complete CE for the licence period?
The first annual licence renewal for new licensees who obtain an insurance licence between March 1 and May 31 is May 31 the following year.
Therefore, if your licence is issued between March 1 and May 31, 2022, you are not required to complete CE credits for three remaining months of the 2022 licence period. Commencing June 1, 2023, you will be required to complete all of the CE credits required for your licence class.
I have a professional designation and previously qualified for credit reduction. Is there a reduction in the number of CE credits I am required to complete under the new CE guidelines?
No. Starting June 1, 2021, every licensee is required to complete the same number of credits for their class of licence regardless of whether they hold a designation. Licensees cannot claim can any CE credit reductions. A general salesperson, agent, or adjuster is required to complete 8 credits annually and a life and/or accident and sickness insurance agent is required to complete 15 credits annually per licence period.
I previously qualified for a credit reduction based on the number of years I’ve been licensed with the Insurance Council. Is there a reduction in the number of CE Credits I’m required to complete under the new CE guidelines?
No. Effective June 1, 2021, all licensees are required to complete the same number of credits for their class of licence and no CE credit reductions can be claimed.
Why are there no longer any credit reductions for licensees who hold certain designations or five or more years of licensed experience?
There were a number of important regulatory factors the Insurance Council considered in eliminating the CE credit reductions. Firstly, eliminating the CE reduction would create harmonization with other provincial jurisdictions, relevant to those registered in multiple jurisdictions. Secondly, because licensees can hold a licence without being active in the industry, a CE credit reduction based on number of years licensed would not adequately support public protection. Furthermore, where professional designations are concerned, since professional associations have varied CE requirements for their designations—and in some cases do not have any—broadly applying a reduction in CE credit requirements is problematic and does not establish a consistent amount of insurance-specific learning for all licensees.