Annual licence renewal: What you need to know about changing your licence status

Published April 25, 2022

The process of annual licence renewal (formerly annual filing) opened April 1^st. All insurance licensees must complete their annual licence renewal to maintain their licence for the following year. The deadline to renew is June 1, 2022.

To address some frequently asked questions about non-renewal and changes to licence status, we’ve included the following brief Q&A below.
 

I am not sure if I should renew my licence. What should I do?
Are you taking time away from your insurance work or reconsidering whether the insurance business is right for you and wondering whether you should renew your licence for another year? Whether you are an active or inactive licensee, there are still licensee responsibilities you are required to fulfill. This includes completing your continuing education, annual licence renewal, and mandatory notification requirements.

For more information on the requirements for each licence status, see our Licence Status page. You can also discuss your licensing status options with a member of our Practice & Quality Assurance team.


I hold an active licence but, I haven’t undertaken insurance activities or worked with clients for some time. Do I still need to carry errors and omissions insurance and complete continuing education credits?
Yes. Licensees who hold an active licence must meet all licensing requirements and licensing responsibilities.

 
I have retired from practice and hold an inactive licence. Do I still have to complete my Continuing Education requirements?
Yes. If you hold a licence with the Insurance Council, regardless of whether it is active or inactive, you still have licensing responsibilities and requirements to fulfill, including meeting continuing education and mandatory notification requirements.

 
I have decided to terminate my insurance licence. Do I need to advise the Insurance Council?
Yes. The request to terminate a licence must come from you, the licensee, directly. Please submit a written request to our Licensing team at licensing@insurancecouncilofbc.com and provide the date on which you wish to terminate your licence.


If I terminate my licence now and I decide to reapply in the future, what do I need to know?
Please review the Reactivation Provision before you proceed to terminate your licence. You may be required to retake the qualifying education if you do not meet the conditions of the provision.

For more information about annual renewal, including detailed instructions, please see visit here.