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What's New at the Insurance Council - July 2021

Submitted by Victoria on July 20, 2021 - 2:45pm

What’s New at the Insurance Council | July 2021

 

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Provide your input for Council Rule on salespersons location restriction

We are conducting further consultation for Rule 6(1)(b) Location Restriction for General Salespersons. The revised amendment would remove the restrictions limiting level 1 licensees' insurance business activities to a specific location entirely.

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List of other business activities and potential conflicts of interest updated

Do you work or volunteer outside of where you conduct insurance business activities? There are occasions where there may be a conflict of interest that risks a licensee's ability to provide fair representation of a client or insurance company.

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Motor vehicle dealership loyalty products classified as insurance

BC Financial Services Authority recently conducted a review of motor vehicle dealership loyalty products offered in BC and concluded these products meet the definition of insurance. These products can, therefore, only be sold by insurance agents and salespersons licensed by the Insurance Council. 

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The Insurance Council welcomes new Director, Licensing and Examinations

We are pleased to announce that Lesley Maddison has joined the Insurance Council as Director of Licensing and Examinations. Lesley has over 35 years' of experience as an insurance broker including as a nominee level 3 licensee and was a former voting member and Chair of the Insurance Council.

Connect with Lesley

 

 

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The Insurance Council provides an accessible option for criminal record checks

The Insurance Council has partnered with ScreeningCanada to provide an accessible option for criminal record checks for insurance licence applicants. Applicants can now complete the check online.

Apply online

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Annual filing: Late filing deadline

The late filing fee is now in effect. All licences will automatically be terminated for non-filing if not complete by August 3, 2021.

File here

Discipline decisions

Kulwinderpal Singh Khosah was disciplined in June 2021 for breaching the Insurance Council’s Rules of Conduct by failing to notify the Insurance Council about a series of criminal charges and convictions, as well as for making a material misstatement on a licence application submitted to the Insurance Council. 

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Source URL: https://www.gpfs.ca/bulletins/insurance-council-bc/2021-07-20/whats-new-insurance-council-july-2021