LLQP (Life Licence Qualification Program) exam prerequisites, course information, and other life insurance licence qualifications and requirements for individuals, partnerships, or corporations in BC.
Council makes every effort to keep the LLQP information regularly updated. Please check back often.
Council is here to help. Your insurance licensee resources include compliance information such as licensee responsibilities; council rules; continuing education; disciplinary decisions and process; and other useful information for licensed individuals, partnerships, or corporations in BC.
Council makes every effort to keep insurance licensee resources regularly updated. Please check back often.
Get up to speed on the latest news and developments from the Insurance Council of British Columbia.
The Minister of Finance has approved an additional urgent temporary rule change to Rule 6(1)(b). This effectively extends the rule change first brought into force in March 2020 allowing eligible level 1 general insurance salespersons to work outside an agency office.
The Insurance Council recently issued a practice guidance detailing licensees' responsibilities when placing insurance with an unauthorized insurer on behalf of a client.
BCFSA recently conducted a review of motor vehicle dealership loyalty products offered in BC and concluded these products meet the definition of insurance.
As of March 2021, the Insurance Council has ceased issuing licences restricted to the sale or adjusting of one or more specific products.
Applications for individual licences (ADJ-GEN-LIF-A&S) can now be submitted online. Online application for corporate licences, travel sole-proprietor licences, and trainee registrations are not yet available, but is currently in development. Instructions for the online application process are available on our website.
Courtesy email notifications will be sent to all licensees when annual filing becomes available. Please be sure to check and update your contact information via the online portal before then to receive these emails.
The Insurance Council is pleased to offer a free webinar for new life agents or accident & sickness agents licensed June 1, 2019, and later. This session will provide an overview of definitions, life and accident & sickness agent professional responsibilities, and requirements for conduct, continuing education and E&O insurance.
Licensee, stakeholder and public feedback is being sought on proposed changes to two Insurance Council Rules. This first set of rule changes is being brought forward as a part of the Council Rules Review initiative.
We answer your questions about last year’s extension for 2020 CE credit requirements as well as this year’s requirements, both due May 31, 2021.
In May 2020 we launched a consultation on proposed new guidelines for Continuing Education requirements.This article provides an overview of what we heard during consultation, council's decision, and what’s happening next.
A reminder that new life agents and their supervisors need to submit a “Confirmation of Completion” form to the Insurance Council for approval when a new life agent’s supervisory period is over. Until the Insurance Council receives and approves this form, the supervisor's name remains on the new life agent’s license. The minimum supervision period for a new life agent is 24 months, not a maximum, so it’s important to complete and send in the form so that the conditions can be removed.
You can find the form here under the heading 'Supervision.'
Exciting news! The Insurance Council is targeting the launch of an online application process for non-corporate insurance licences at the end of March. Online application for corporate licences is expected later in the summer. More information will follow on our website closer to launch.
The Insurance Council is consulting licensees and stakeholders on updated regulatory guidance for managing general agents (MGAs) in the Life Insurance sector. We are inviting your written feedback on a draft document: Guidelines for Managing General Agents’ Role and Responsibilities in the Distribution of Life Insurance in British Columbia until February 15, 2021.
The BC Financial Services Authority (BCFSA) recently advised that it will temporarily relax current restrictions on agents’ use of unauthorized insurers in certain circumstances.
The Insurance Council is conducting a comprehensive review of the Council Rules. The review seeks to identify provisions that need to be clarified or aligned with current practices, that are outdated and in need of updating, and that may need to be revised to achieve desired regulatory outcomes.
The Insurance Council is pleased to offer a free continuing education webinar for New Level 1 Salespersons licensed June 1, 2019 and later. The session will cover licensee responsibilities and requirements, an overview of continuing education requirements, the temporary rule change on location restrictions, and licence renewal.