BC Insurance agents – your CE deadline is coming up on May 31, and the BC Insurance Council wants to make you aware of a number of key points about your continuing education requirements.
In an email sent out last Friday, the council strongly recommends that you review the CE section on Council’s website to ensure you are aware of your responsibilities, as it appears there are common misconceptions on the CE requirements.
Some key points from their email:
- Your licence year runs from June 1 to May 31.
- You must complete CE for each year licensed, including your first year, regardless of when you obtained your licence. The CE for your first year must be completed at the time of your first annual filing. As an example, if your first licence was effective March 15, 2013, the next filing date is June 1, 2014. For your June 1, 2014 filing you will be required to have two full years of CE credits; one for your March 15, 2013 to May 31, 2013 licence year and one for your June 1, 2013 to May 31, 2014 licence year.
- If you have been licensed for any part of a licence year (active or inactive), you must complete the full CE requirement for that year.
- There is no carry-forward of credits.
- The LLQP course and exam taken to qualify for your life licence do not qualify for CE.
- Courses taken prior to obtaining your licence do not qualify for CE.
This is not all of the information you require to meet your CE obligations. The insurance council urges you to read the entire section on your CE responsibilities, including how to determine if a course qualifies, the number of hours needed, and what information you need to maintain on file for a CE audit.
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According to the email from the insurance council, Council has increased the number of CE audits it conducts and has been disciplining licensees found to be in breach of this licence condition. In its reviews, Council has typically not accepted a licensee’s lack of knowledge regarding their responsibilities as a defence. Remember it is your responsibility to understand and meet your responsibilities as a licensee.
