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What's New at the Insurance Council - June 2021

Submitted by Victoria on June 22, 2021 - 4:23pm

What’s New at the Insurance Council | June 2021

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Annual Filing: Late Filing Fee

A late fee for annual filing is now in effect. All licences will automatically be terminated for non-filing if incomplete after August 3, 2021.

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New Continuing Education Guidelines 

On June 1, 2021, the Insurance Council's new Continuing Education Guidelines came into effect. Visit our website to familiarize yourself with the new requirements moving forward. 

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FINTRAC Issues Anti-money Laundering Guidance on Verifying Clients

The Financial Transactions and Reports Analysis Centre of Canada introduced a new guidance for life insurance companies, brokers and agents that came into effect on June 1, 2021. The guidance outlines cases when client identities must be verified in order to prevent money laundering.

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Canadian Regulators Seek Input to New Conduct Principles for Intermediaries

The Canadian Insurance Services Regulatory Organizations is seeking input for the development of its Principles of Conduct for Intermediaries to help ensure the fair treatment of customers in the life & health and property & casualty insurance sectors. The deadline for feedback is July 9. 

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Source URL: https://www.gpfs.ca/bulletins/insurance-council-bc/2021-06-22/whats-new-insurance-council-june-2021