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Notifications to Council

Licensees have an obligation to provide notification to the Insurance Council of BC of certain changes or
decisions that are related to their insurance licence.

These may be related to personal or business related changes, or disciplinary or legal decisions. Notification to
the Insurance Council can occur by email or regular mail.

 

Find out more about notification requirements for:

 

 

Individual Licensees - Notification Requirements

If you are a life/general insurance agent, salesperson, or adjuster, notification within five business days (unless otherwise stated) is required where you or any business you own, or has participated in as a director, officer, or partner undergoes:

If a licensee is disciplined by any financial sector regulator or any professional or occupational body, they must provide the Insurance Council with:

  • A written explanation of what happened.
  • A copy of the discipline order from the other regulatory body.
  • Any evidence you have satisfied the requirements of that regulatory body.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

Written notification can be emailed to practice@insurancecouncilofbc.com. 

In the event a judgment is rendered in relation to any insurance activities, fraud, or breach of trust, licensees must submit a copy of the judgment to Council.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

Written notification can be emailed to practice@insurancecouncilofbc.com. 

Licensees that declare bankruptcy, must notify the Insurance Council and provide a copy of their bankruptcy documents.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

Written notification and bankruptcy documents can be emailed to practice@insurancecouncilofbc.com. 

Licensees charged or convicted of any criminal offence or any offence under any law of any jurisdiction (excluding traffic offences resulting in monetary fines only), must notify the Insurance Council within five business days from the date they are charged with an offence. Licensees should provide a copy of any documents given to them as well as a written summary of what occurred.

Council staff will be in touch once they have had an opportunity to review the documents.

Written notifications can be emailed to practice@insurancecouncilofbc.com.

When a licensee’s authorization to represent an insurance agency, adjusting firm, or general insurance direct writer is withdrawn, they are required to notify the Insurance Council. If the reason for withdrawing the authorization relates to the individual’s suitability or conduct as a licensee, the agency must submit a summary of the reason for the withdrawal.

Both the licensee and the agency must submit written notification that the authorization has been withdrawn.

The licensee should:

  • Submit a written request to the Insurance Council's Licensing Department at licensing@insurancecouncilofbc.com; and
  • Provide the date on which they are no longer representing an insurance agency, adjusting firm, or general insurance direct writer within five business days of the withdrawal.
The licensee's licence will become inactive until an Add Authorization to Represent form is submitted and reviewed by the Insurance Council.

Insurance Council staff will be in touch once they have had an opportunity to review the submissions.

Any change in name, including trade names must be submitted to the Insurance Council using a Change of Name Form and must include the supporting documents and corresponding fee.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

View and download the Change of Name Form and Fee Schedule.

Written notification and name change documents can be emailed to licensing@insurancecouncilofbc.com. Once reviewed, the Licensing team will reach out to licensees with instructions on how to submit the corresponding fee through our Online Portal. Alternatively, the name change documents and fee can be mailed or couriered to our office.

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.
 

A licensee must notify the Insurance Council within 30 calendar days of any change in contact information.

Contact information can now be updated through our online portal. Licensees can log into their portal account using their user name and password.

To update your contact information online:

  • From the main menu, click on Update my contact information.
  • Click on Edit Contact, make the required changes, and click Save.
  • Click on Manage Addresses, Edit Address, then Save. Please edit existing addresses instead of adding new addresses, unless you need to add a new address type. Your service address is the one that Council will use to send written correspondence.
Alternatively, you may update your contact information by emailing a Change of Contact Information Form to licensing@insurancecouncilofbc.com. 

View and download the Change of Contact Information Form - Individuals
Supervisors of New Life and/or Accident and Sickness Agents must provide written notification to Council within 5 business days should a supervisor decide to withdraw as the supervisor before the new Life and/or A&S Agent’s mandatory supervision period is completed. Until written notification is received by Insurance Council, the supervisor remains accountable for the New Life and/or A&S Agent. The supervisor must also provide the reason for ceasing to supervise a New Life and/or A&S Agent if the reason for ceasing to supervise relates to a New Life and/or A&S Agent’s suitability or conduct as a licensee. Review Council’s Notice ICN 19-004 Guidelines for Supervision of New Life and/or Accident & Sickness Agents to learn more about your responsibilities as a supervisor and a New Life and/or A&S Agent.
 
Email licensing@insurancecouncilofbc.com to notify us of the completion of supervision
 
In the written notification, indicate:
  • Name of the licensee
  • Date your supervision of the licensee ceased
  • Reason for withdrawal as supervisor if it relates to the person's suitability or conduct.
Where a life agent licensee no longer has written authorization to represent at least one insurer authorized to do business in British Columbia, their licence is will be automatically suspended without further action by the Insurance Council. Licensees must notify the Insurance Council of the automatic suspension within five business days of the suspension.

Written notifications may be provided to the Insurance Council by email at practice@insurancecouncilofbc.com.
Licensees may be asked to place a client’s insurance business with an insurer who is not authorized to conduct business in British Columbia when the necessary coverage is not available from an authorized insurance company or if coverage from an authorized insurer did not meet the client’s specific insurance needs. However, before conducting business with an unauthorized insurer, licensees have specific requirements under Insurance Council Rules, the Financial Institutions Act and the Insurer Exemption Regulation.
 
Among other requirements, licensees are required to notify the Insurance Council in writing that they intend to rely on section 76(1)(c) of the Act prior to completing a transaction with an unauthorized insurer. Licensees who are involved with the placement of insurance with unauthorized insurers are also required to file with the Superintendent of Financial Institutions (Superintendent) a Placement of Insurance with Unauthorized Insurers Return (BCFSA Return) within 30 days at the end of each quarter. Notice ICN 21-001 Use of Unauthorized Insurers outlines regulatory requirements for licensees placing business with an unauthorized insurer.  

Written notification can be emailed to practice@insurancecouncilofbc.com.

Corporate Licence - Notification Requirements

Nominees of life/general insurance agencies and adjusting firms are required to meet the notification requirements within five business days (unless otherwise stated) if their agency/firm is undergoing:

Licensees that have been disciplined by any financial sector regulator or any professional or occupational body are required to provide the Insurance Council with the following within 5 business days:
  • A written explanation of what occurred.
  • A copy of the discipline order from the other regulatory body.
  • Any evidence you have satisfied the requirements of that regulatory body.
Insurance Council staff will be in touch once they have had an opportunity to review the documents.

Written notification can be emailed to practice@insurancecouncilofbc.com.
In the event a judgment is rendered in relation to any insurance activities, fraud, or breach of trust, submit a copy of the judgement to Council.

Council staff will be in touch once they have had an opportunity to review the documents.

Written notification can be emailed to practice@insurancecouncilofbc.com.
 
If a licensee's corporation declares bankruptcy, they are required to notify the Insurance Council within 5 business days and provide a copy of the bankruptcy documents.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

Written notification and bankruptcy documents can be emailed to practice@insurancecouncilofbc.com.
When a licensee’s authorization to represent an insurance agency, adjusting firm, or general insurance direct writer is withdrawn, you are required to notify the Insurance Council. If the reason for withdrawing the authorization relates to the individual’s suitability or conduct as a licensee, the agency must submit a summary of the reason for the withdrawal.
 
Both the agency and the licensee must submit written notification that the authorization has been withdrawn.

Nominees can now update authorizations to represent through the Insurance Council's online portal by logging into the corporate licensee's account. 

Alternatively, written requests may be submitted to our Licensing Department at licensing@insurancecouncilofbc.com, providing the licensee's name and the date on which they are no longer representing an insurance agency, adjusting firm, or general insurance direct writer within five business days of the withdrawal. 
 
Any change in name, including trade names is required to be submitted to the Insurance Council using a Change of Name Form, accompanied by the supporting documents and corresponding fee.

Written notification and name change documents can be emailed to licensing@insurancecouncilofbc.com. Once reviewed, the Licensing team will reach out to licensees with instructions on how to submit the corresponding fee through our Online Portal.  Alternatively, the name change documents and fee payment can be mailed or couriered to our office.

Insurance Council staff will be in touch once they have had an opportunity to review the documents.

View and download the Change of Name Form and Fee Schedule.
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 are required to notify the Insurance Council within five business days and immediately stop conducting any insurance activities.

Notification of a lapse in corporate E&O insurance can be emailed to practice@insurancecouncilofbc.com.

Corporate licensees should be aware that they have notification requirements for the opening or closing of branch offices, or in the event of a material change in the ownership of an insurance agency or adjusting firm.

Within 30 calendar days, nominees for the corporate licensee must provide notification to the Insurance Council as follows.

For the opening and closing of branch offices, provide in writing to licensing@insurancecouncilofbc.com:

  • The address and phone number of the branch, and;
  • In the case of a new branch office, advise who will be working there.
For a material change in ownership:

Council staff will be in touch once they have had an opportunity to review the documents.



 

An agency's nominee must notify the Insurance Council of any change in the agency/firm's contact information within 30 calendar days.

Contact information can now be updated through our online portal by logging into the corporate licensee's account.

To update contact information online:

  • From the main menu, click on Update my contact information.
  • Click on Edit Contact, make the required changes, and click Save.
  • Click on Manage Addresses, Edit Address, then Save. Please edit existing addresses instead of adding new addresses, unless you need to add a new address type. Your service address is the one that Council will use to send written correspondence.
Alternatively, you may update a change in contact information with Council by emailing a Change of Contact Information Form to licensing@insurancecouncilofbc.com.

Change Corporate Contact Information form
Where the insurance agency no longer has written agreement to represent and collect premiums on behalf of at least one insurer authorized to do general insurance business in British Columbia for a period exceeding 21 days, other than the Insurance Corporation of BC, except where approved by Council; will have its licence and all licences of its authorized representatives automatically suspended without Council taking any action. 

The Nominee of the agency must notify Council of the automatic suspension within five business days of the suspension.

Written notification to Council can be emailed to practice@insurancecouncilofbc.com.
A restricted travel insurance agent must notify Council within five business days where the licensee is not registered as a travel agent or wholesaler under the Business Practices and Consumer Protection Act for a period of 30 days.

Written notification can be emailed to practice@insurancecouncilofbc.com.