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Council Rules and Code of Conduct


The Insurance Council Rules establish licence conditions and requirements for all licensees in addition to the requirements set out in the provincial Financial Institutions Act and other legislation.

Additionally, Council Rule 7(8) requires all licensees to comply with the Insurance Council's Code of Conduct. The  Code of Conduct defines and communicates standards of conduct for use by licensees in their practice of the business of insurance.

All Insurance Council licensees are expected to abide by and stay up-to-date on the most current Council Rules and Code of Conduct, and be aware of their licensee responsibilities. 

View/download the Council Rules      View/download the Code of Conduct 

What's New

An updated version of the Council Rules was published on February 23, 2023, to reflect amendments to the rules listed below.

Amendments to the following rules come into effect March 31, 2023:
  • Rule 2(11.1) Nominee Qualifications
  • Rule 2(18) Business Registration and Name Requirements
  • Rule 2(19) Licence Reinstatement
  • Rule 4(4)(b.1), (c), (d) Licence Renewal and consequential amendments to Rules 4(3)(c), 7(11)(e), 7(12)(b), 7(13)(d), 7(16)(d) and 7(17)(d)
  • Rules 6(1)(c) and 6(2)(b) - Direct Supervision
The addition of Rule 7(11.2) Conflict of Interest and related definitions come into effect July 1, 2023.

Learn more about updates to the rules
 
Council Rules Review

Learn more about this ongoing intiative to modernize the Council Rules so that they continue to provide an effective framework for the oversight of BC insurance licensees.

Licensee Responsibilities

There are additional resources available on our website which expand on many of the principles and requirements which are detailed in the Insurance Council Rules and Council Code of Conduct. These include resources which are available on the Licensee Resources and Licensee Responsibilities pages of our website, such as compliance information including licensee and nominee responsibilities; Notices and Guidelines; continuing education requirements; disciplinary decisions and process; and other useful information for licensed individuals, agencies, and firms in BC.