Under Insurance Council Rules (
Rule 7(11)), a licensee must maintain or be covered by Errors and Omissions (E&O) insurance that extends to all activities as a licensed insurance agent, salesperson or adjuster, with a minimum of $1,000,000 per claim and a minimum aggregate limit of $2,000,000. If a licensee is no longer insured, they must notify Council within five business days and immediately stop conducting any insurance activities.
Written notification can be emailed to
practice@insurancecouncilofbc.com.