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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

Updated Rule Document Published
An updated version of the Council Rules was published June 30, 2023, to reflect amended wording for Nominee Qualification Rules 2(11) and 2(12), which will come into effect August 1, 2023.


Rule 7(11.2) Conflict of Interest - Rule 7(11.2) and related definitions will come into effect July 1, 2023.

Information for licensees on compliance with the new rule is available here, and in Notice 23-001 Conflict of Interest in Strata Insurance Business. Licensees seeking practice support regarding the rule can contact our practice advisory team at practice@insurancecouncilofbc.com.

Information for the public on the rule and strata insurance policies is provided in a published statement: Understanding the New Conflict of Interest Rule for Strata Insurance

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.