News and Latest Updates

Get up to speed on the latest news and developments from the Insurance Council of British Columbia.

March 2021

Issuing of Product-specific Restricted Licences Discontinued

As of March 2021, the Insurance Council has ceased issuing licences restricted to the sale or adjusting of one or more specific products.  

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Online Application for Individual Licences Now Available

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.

Annual Filing Starts April 1: Update Your Contact Info

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. 

Webinar for New Life Agents Offered

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.

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Consultation on Proposed Changes to Rules 5 and 6(1)(b) 

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. 

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February 2021

Meeting Continuing Education Requirements – About the 2020 CE extension

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.

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Update on the Continuing Education Guidelines: What’s Happening and Next Steps

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.

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Completion of Supervision Period for New Life Licensees

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.' 


Online Applications for Individuals Coming Soon

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.



January 2021

Consultation on Guidelines for Life Insurance MGAs

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

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Changes to Use of Unauthorized Insurers

The BC Financial Services Authority (BCFSA) recently advised that it will temporarily relax current restrictions on agents’ use of unauthorized insurers in certain circumstances. 

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Insurance Council Rules Undergo Review

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. 

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Webinar for New Level 1 Salespersons – Registration Open

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. 

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News Archive