Get familiar with the Insurance Council's Rules and Code of Conduct

Published June 14, 2024

Have you reviewed the Insurance Council’s Rules and Code of Conduct recently? If not, now’s a great time to do so!
 
Licensees are encouraged to regularly review Insurance Council Rules and Code of Conduct ensuring they abide by and stay up to date with their ongoing requirements and are meeting practice standards.
 
The Insurance Council Rules establish licence conditions and requirements for all licensees in addition to the requirements set out in the provincial Financial Institutions Act and other legislation. The Code of Conduct defines and communicates standards of conduct for use by licensees in their practice of insurance business.
 
The Insurance Council’s website provides many resources to support licensees in understanding and meeting their ongoing requirements, and which expand on many of the principles and requirements detailed in the Insurance Council’s Rules and Code of Conduct. The Licensee Resources and Licensee Responsibilities pages of our website include resources such as compliance information including licensee and nominee responsibilities; practice advisory notices and guidelines; continuing education requirements; disciplinary decisions and process; and other useful information for licensed individuals, agencies, and firms in BC. 

To help licensees better understand what is required to practice as an insurance professional, we will regularly feature an aspect of the Rules or Code of Conduct in the coming months. Stay tuned for the next segment!

The Insurance Council is here to help! If you have questions about your regulatory and practice requirements or are seeking practice guidance, contact a member of our Practice & Quality Assurance team at practice@insurancecouncilofbc.com or 604-695-2008.