CE Credits Poll
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How many CE credits do I need?
How many CE credits do I need to renew my insurance license?
Canadian Insurance Continuing Education Requirements and Record Keeping
The following information is to be used as guidance to help you ensure you meet your professional requirements and obligations. For more information or for help with specific questions, contact your provincial or territorial insurance council.
BC CE REQUIREMENTS
- General insurance – June 1 to May 31 annually – 4, 6 or 8 CE credits, depending on experience (see below for more information)
- Adjusters – June 1 to May 31 annually – 4, 6 or 8 CE credits, depending on experience (see below for more information)
- Life and Accident and Sickness – from June 1 to May 31 annually – 5, 10 or 15 CE credits, depending on experience (see below for more information)
Depending on what license the licensee holds, there are other restrictions in place:
General insurance
- Licensees with an approved designation (CAIB, CIB, CIP [formerly AIIC], CCIB, FCIP and CRM) must have 4 continuing education credit hours
- Licensees who do not have an approved designation but have been licensed as a general insurance agent or salesperson for at least 5 out of the last 7 years in Canada must earn 6 continuing education credit hours
- Licensees who do not have an approved designation and who have not been licensed as a general insurance agent or salesperson for at least 5 out of the last 7 years in Canada must earn 8 continuing education credit hours
- No single course can be accredited for more than 8 hours
- No more than 7 credit hours can be earned in a single day
- If a course includes an exam, the student must pass the exam to receive the credit hours
- Excess credit hours cannot be carried over into the next licensing period
Adjusters
- Licensees with an approved designation (CAIB, CIB, CIP [formerly AIIC], CCIB, FCIP and CRM) must have 4 continuing education credit hours
- Licensees who do not have an approved designation but have been licensed as a general insurance agent or salesperson for at least 5 out of the last 7 years in Canada must earn 6 continuing education credit hours
- Licensees who do not have an approved designation and who have not been licensed as a general insurance agent or salesperson for at least 5 out of the last 7 years in Canada must earn 8 continuing education credit hours
- No single course can be accredited for more than 8 hours
- No more than 7 credit hours can be earned in a single day
- If a course includes an exam, the student must pass the exam to receive the credit hours
- Excess credit hours cannot be carried over into the next licensing period
Accident and Sickness (A&S)
- Licensees who hold an approved designation (CFP, CLU, RHU,FCIA,FLMI or CEBS) must earn 5 hour of continuing education credits
- Licensees who have been licensed as a life insurance agent for at least 5 out of the last 7 years but do not have an approved designation must have 10 hours of continuing education credits
- Licensees who have not been licensed for at least 5 out of the last 7 years and do not have an approved designation must obtain 15 hours of continuing education
- No single course can be accredited for more than 15 hours
- No more than 7 credit ours can be earned in a single day
- If a course includes an exam, the student must pass the exam to receive the credit hours
- Excess credit hours cannot be carried over into the next licensing period
Life Insurance
- Licensees who hold an approved designation (CFP, CLU, RHU,FCIA,FLMI or CEBS) must earn 5 hour of continuing education credits
- Licensees who have been licensed as a life insurance agent for at least 5 out of the last 7 years but do not have an approved designation must have 10 hours of continuing education credits
- Licensees who have not been licensed for at least 5 out of the last 7 years and do not have an approved designation must obtain 15 hours of continuing education
- Only technical material will qualify for continuing education. This includes education relating to:
- Life insurance products
- Financial planning, provided the education is geared towards life insurance and not a non-insurance sector such as securities or mutual funds
- Compliance with insurance legislation and requirements, including the Insurance Act, Council Rules, privacy legislation
- Ethics
- E&O
- Excess credit hours cannot be carried over into the next licensing period
- No course can be accredited for more than 15 hours;
- There is a daily maximum of 7 hours; and
- Where a course involves an exam, you must successfully pass the exam.
Licensees must ensure they have a valid record of course completion. These records must be kept for five years from the end of the licensing period from when the credit was obtained. The Insurance Council of British Columbia may conduct random audits. Licensees who lack proper records or documentation may face disciplinary action, including the invalidating of the license.
Generally, one hour of instruction is equal to one hour of continuing education credit, with a one hour minimum. Breaks are excluded from the hour and students must complete the course or the seminar.
ALBERTA CE REQUIREMENTS
- General insurance – July 1 to June 30 annually – 15 CE credits
- Adjusters – July 1 to June 30 annually – 15 CE credits
- Life and Accident and Sickness – July 1 to June 30 annually – 15 CE credits
Agents, brokers and adjusters in Alberta must maintain their continuing education certificates for three years after the expiry of the licensing period in which the credits were earned. The Alberta Insurance Council may conduct random audits and these audits will only extend back three years.
Alberta allows for a carry-over of 7.5 hours/credits per year, per insurance class.
All licensees will be required to earn 15 hours of credits per certificate (with a carry-over of 7.5 hours per year allowed.) When renewing his or her license, the licensee must declare that he or she has obtained the required number of hours. The Alberta Insurance Council may conduct random audits.
MANITOBA CE REQUIREMENTS
- General insurance – June 1 to May 31 annually – 8 CE credits
- Adjusters – July 1 to June 30 annually – 8 CE credits
- Life and Accident and Sickness – from June 1 to May 31 annually – 15 CE credits
Licensees must self-report their earned continuing education credits online through the Insurance Council of Manitoba’s Enhanced Online CE Module.
Continuing education requirements vary by license, as follows:
General insurance
- 8 credit hours accumulated from June 1 to May 31
- Maximum of 4 credit hours can be carried forward each year
Adjusters
- 8 credit hours accumulated from July 1 to June 30
- Maximum of 4 credit hours can be carried forward each year
Life and/or Accident & Sickness
- 15 credit hours accumulated from June 1 to May 31
- Carryover of excess credit hours is not permitted
Auto-only brokers
- 4 credit hours accumulated from June 1 to May 31
- Maximum of 2 credit hours can be carried forward each year
To see all provincial CE credit requirements visit the ILScorp Resource Center: https://ilscorp.com/resource-center/
Back to Work, Back to CE Deadlines!
Hope you enjoyed your long weekend!
Now it’s back to work and back to mandatory CE requirement deadlines.
Hooray!
Don’t stress out just yet.
Yes there are only days left to the May 31 CE credit deadline but with ILS your CE is FAST, EASY and DONE!
Get online and get to work. Purchase or renew your ILS CE Course Subscription and complete your CE requirements entirely online now.
ILS offers accredited continuing education courses for insurance agents and financial planners across Canada. Continuing Education deadlines for insurance agents in BC and Manitoba are May 31, and Alberta’s requirements must be met by June 30 this year. With an ILS CE Course Subscription immediately access hundreds of provincially accredited CE hours for one low cost.
Renew or Purchase CE SubscriptionYour CE Deadline Dates
MAY 31 – BC Life / General / Adjuster – MB Life / General
JUNE 30 – AB Life / General / Adjuster – MB Adjuster
SEPT 30 – ON General
New Course: Behavioural Finance
Behavioural Finance
Irrational behaviours can be among the most difficult behaviours to deal with. People exhibiting irrationality tend to focus on their own way of thinking rather than a more predictable mindset. This irrational mindset can have negative consequences for a person’s life and investments.
Luckily, there are ways to bring an irrational person back to a rational mindset. As an investment advisor, it is your job to identify these behaviours and then correct them. Client irrationality, left unchecked, can wreak havoc on an investment portfolio.
Behavioural Finance: Lesson 1
Introduction to Economic Theory
This course briefly introduces Traditional Finance Theory as a backdrop to the new field of Behavioural Finance Theory. This first section will go over the assumptions that Traditional Finance Theory makes and how, in real life, not all of them hold up. Additionally, you will be introduced to Behaviour Finance and shown how it fills in the holes left by Traditional Finance Theory. Lastly, you will be introduced to some of the anomalies of the market place as well past market inefficiencies and market crashes.
Behavioural Finance: Lesson 2
Investment Behavioural Types and Biases
This section focuses on how irrationality affects the stock market. It will identify some of the flaws of Traditional Finance Theory and how the new field of Behavioural Finance attempts to circumvent these flaws. This section also highlights some biases your clients might have and possible pitfalls to investment that you can help them avoid. The course material will help you to identify types of investors and to anticipate their needs and preferences. Overall, the course objective is to make you a better advisor, able to serve your clients with a broader perspective and maximize the returns on their portfolios.
More Info On Course
EXCERPT FROM BEHAVIOURAL FINANCE COURSE
Behavior Investment Types (BIT)
This section will focus on the personality traits of certain investors. Each of these personality types exhibit some kind of irrational behavior, that when identified, can help you better serve your client. You might also see some of this behaviour in yourself.
These types do not necessarily have to be memorized, but knowing how to identify certain personality traits will help you work through your client’s irrational behaviour.
In this section we will go over the difference between a passive and active investor. We will also show how the investment goals of a person changes as their age changes. Lastly, we will go over two behavior-based models based on the different behaviour types prevalent in investors.
Passive vs. Active Investor
- Passive investors are those investors that generally acquire their wealth through inheritance or through risking other people’s money. These people generally have a high need for security and have a low tolerance to risk. Many of these people are also generally older and closer to retirement age. Plus, passive investors are more focused on preserving their wealth than gaining more.
- Active investors have been actively involved with the creation of their own wealth. They have also risked their own capital in achieving their wealth. Generally these people have a high-risk tolerance. These people are often demanding clients and like to be involved in their finances.
An investment advisor and/or life agent needs to understand the perspective of the client to better serve his or her needs. For example, offering a bond index fund to an active, risk-focused investor may show less success than to a passive investor.
Access Duration from the Date of Purchase: 6 Month(s)
Credit Hours: 4
Credit Type: Life/A&S
Credit #: AIC45737 MB28340
Accrediting Provinces:
ILScorp Offices Closed at 4pm PST for BC General Voting Day
Today, Tuesday, May 9th, is general voting day in British Columbia for the provincial election.
In order to give our employees time to exercise their right to vote, ILScorp offices will be closed at 4pm PST.
Did you know?
- The number of people who turned out to vote ahead of election day this year is 70% higher than last time.
- 2017 marks the 100th year since women won the right to vote in BC.
- The final count, including absentee votes, doesn’t take place until May 22 to 24.
RIBO CE Technical Subjects
RIBO Continuing Education Requirements
Principal Brokers and Deputy Principal Brokers: 10 hours of continuing education credits every year between October 1st and September 30th. A minimum of 5 hours must be in the Management category. The remaining hours may be in the Management or Technical category.
There is a carryover of a maximum of 10 hours (or one term’srequirements) allowed for the next term.
All other licensed individuals: 8 hours of continuing education credits every year between October 1st and September 30th in any category. There is a carryover of a maximum of 8 hours (or one term’s requirements) allowed for the next term.
Newly licensed individuals: The continuing education program of 8 hours every year between October 1st and September 30th will begin the first October following registration. Individuals are exempted for
the remainder of the licence year that they were registered.
E.g. Broker A was registered on November 1, 2016 and Broker B was registered on April 30, 2017. Both Broker A and Broker B will not be required to have accumulated any continuing education credits by September 30, 2017, but must begin taking the continuing education seminars/courses on October 1, 2017.
If you are “Inactive” or on leave of absences (maternity, sabbatical), you are still required to comply with the continuing education requirements to maintain registration eligibility.
Technical CE
Subjects directed towards imparting of general insurance product knowledge and/or technical insurance expertise including risk management and loss prevention.
Maximum allowable credits: 16 hours
ILScorp List of Technical Courses:
| Alcohol Related Civil Liability – One for the Road – Two for the Courts | 3 |
| All Risks Coverage Homeowners Forms (Standard Wording) | 2 |
| Automobile Theft in Canada | 3 |
| Broad Form – Commercial Buildings, Equipment and Stock – Property Exclusions Explained | 2 |
| Business Income – Part 1 – Profits Form – Lombard Canada | 1 |
| Business Income – Profits Form – Lombard Canada – Part 2 | 2 |
| Business Interruption Insurance – Video Course | 1 |
| Categories of E and O Claims (CL Brokers) – Part 2 | 2 |
| Categories of E and O Claims (PL Brokers) – Part 2 | 2 |
| CGL – Part 1 – The Law and Commercial Liability Insurance | 1 |
| CGL – Part 2 – BI and PD Liability | 1 |
| CGL – Part 3 – BI and PD Liability Exclusions | 1 |
| CGL – Part 4 – Insuring Agreements B-D | 1 |
| Commercial Crime – Video Course | 1 |
| Commercial Liability Including Extensions and Conditions | 2 |
| Commercial Property Coverages – Video Course | 2 |
| Commercial Property Insurance: All Risks Policies – What’s Covered and What’s Not | 2 |
| Condominium Unit Owners Insurance | 3 |
| Contract Bonds | 1 |
| Contractual Exclusion of Liability as a Defence to Negligence Claims The Effect of Waivers and Releases | 2 |
| Coverages And Exclusions In A Blanket All Property Broad Form Policy | 2 |
| Developing a Formal E and O Program for the Brokerage (CL Brokers) – Part 3 | 2 |
| Developing a Formal E and O Program for the Brokerage (PL Brokers) – Part 3 | 2 |
| Directors and Officers Liability – For Non-Profit Corporations | 1 |
| Directors and Officers Liability for Profit Corporations | 2 |
| Dominion of Canada – Part 1 – Broad Form – Commercial Buildings, Equipment and Stock – Perils Exclusions Explained | 1 |
| Earthquake Insurance Are You Ready for the Big One? | 1 |
| Ethics and the Insurance Professional Part One | 2 |
| Ethics and the Insurance Professional Part Three | 2 |
| Ethics and the Insurance Professional Part Two | 2 |
| Garage and Auto Dealers Insurance – Part 1 | 2 |
| Garage and Auto Dealers Insurance – Part 2 | 2 |
| Garage and Auto Dealers Insurance – Part 3 | 2 |
| Homeowners Insurance – What you Need to Know About Fraudulent Claims | 1 |
| Homeowners Liability Insurance Legal Standards and Precedents | 1 |
| Homeowners Property Coverage – Part 1- Standard Wording | 1 |
| Homeowners Property Coverage – Part 2 – Standard Wording | 1 |
| Insurance for Marine Pleasurecraft | 1 |
| Introduction to Insurance Fraud | 2 |
| Introduction to the Claim Process and Claim Handling Techniques | 2 |
| Introduction to Travel Insurance Assistance Services Coverage | 2 |
| Introduction to Travel Insurance Life and Body Protection Coverage | 2 |
| Introduction to Travel Insurance Loss or Delay Protection Coverage | 2 |
| Introduction to Travel Insurance Medical and Dental Coverage | 2 |
| Introduction to Travel Insurance Other Benefits Coverage | 2 |
| Introduction to Travel Insurance Trip Protection Coverage | 2 |
| Liability of Owners for their Pets: Legal Precedents | 2 |
| Making Property Fire Smart | 2 |
| Mold Insurance – Part 1 | 3 |
| Mold Insurance – Part 2 | 3 |
| New CGL Policy – A Bodily Injury and Property Damage Liability – Part 1 | 2 |
| New CGL Policy – Coverage B, C and D – Part 3 | 2 |
| New CGL Policy – Limits, Deductibles and Conditions – Part 4 | 2 |
| Occupiers Liability An Analysis of the Legal Rights, Duties and Responsibilities | 3 |
| Ontario Automobile Policy Program | 5 |
| Pet Insurance – Insurance for Man’s Best Friends | 2 |
| Risk Management – Video Course | 1 |
| Risk Management Techniques & Identity Theft | 1 |
| SGI – Part 2 – Clauses and Conditions, Co-Insurance and Permission in a Blanket All Property Policy | 2 |
| SGI – Part 2 – New CGL Policy – More Coverage – Exclusions & Who’s Covered | 1 |
| SGI Canada Home Pak Policy: Part 2 – Added Features | 1 |
| SGI Canada – Comprehensive Dishonesty, Disappearance and Destruction Rider | 1 |
| SGI Canada – Part 1 – Farm Property: A. General Section | 1 |
| SGI Canada – Part 2 – Farm Property: A. General Section | 2 |
| SGI Canada – Part 1 – The New CGL Policy – Coverage A – Insuring Agreement and Exclusions | 1 |
| SGI Canada – Part 2 – The New CGL Policy – Coverage A (Exclusions) and Section II – Who Is An Insured | 1 |
| SGI Canada – Part 3 – The New CGL Policy – Analyzing Coverages B, C and D | 2 |
| SGI Canada – Part 4 – The New CGL Policy – Limits, Deductibles and Conditions | 2 |
| SGI CANADA FARM BUILDING & CONTENTS INSURANCE | 3 |
| SGI Canada Farm Fertilizer, Chemicals and Fodder Insurance | 1 |
| SGI Canada Farm Machinery Coverage | 2 |
| SGI Canada Farm Produce Advantage Rider | 1 |
| SGI Canada Farm Property Advantage Rider | 2 |
| SGI Canada Farmer’s Liability – Additional Coverages | 1 |
| SGI CANADA FARMER’S LIABILITY – PART 1 | 2 |
| SGI CANADA FARMER’S LIABILITY – PART 2 | 3 |
| SGI Canada Farmers Liability BI and PD Coverages | 4 |
| SGI Canada Grain and Irrigation Equipment Insurance | 1 |
| SGI – Part 3 – Canada Home Pak Policy – Special Limits and Optional Covereages | 3 |
| SGI CANADA HOME PAK POLICY: PART 5 – PERSONAL LIABILITY (1) | 2 |
| SGI CANADA HOME PAK POLICY: PART 6 – PERSONAL LIABILITY (2) | 2 |
| SGI CANADA HOME PAK POLICY: PART 1 – PROPERTY INSURED & CLAIMS PROCESS | 2 |
| SGI CANADA HOME PAK POLICY: PART 4 COVERAGES, EXCLUSIONS AND CONDITIONS | 2 |
| Some Coverage Limitations in a Commercial Policy (CL33) | 2 |
| The E and O Exposure – Legal Considerations (CL Brokers) – Part 1 | 1 |
| The E and O Exposure – Legal Considerations (PL Brokers) – Part 1 | 1 |
| Underwriting 101 – Video Course | 1 |
| Wawanesa – BIP – Part 1 – Property Coverages in a Commercial Policy | 3 |
| Wawanesa – BIP – Part 7 – Coverage E – Business Liability and Coverage F – Medical Expenses | 1 |
| Wawanesa – BIP – Part 8 – Exclusions – Coverage E – Business Liability and Coverage F- Medical Expenses | 1 |
| Wawanesa – Part 3 – Select Series Coverage D – Crime | 1 |
| Wawanesa – Select Series – Part 2 – Coverage C – Loss of Income | 2 |
| Wawanesa BIP Policy – Part 6 – Optional Coverages | 1 |
| Wawanesa Contractor’s Choice | 2 |
| Wawanesa Salon Select | 1 |
| What Business Owners Can Do About The High Cost of Employee Dishonesty | 2 |
| What you Need to Know about Marijuana Grow Ops | 1 |
The deadline for completion of the continuing education requirements is September 30, 2017 and there are no extensions for individuals to comply. Noncompliance
of the continuing education requirements will result in the suspension of the license and suspended individuals may not conduct any business with members of the public until the license is reinstated.
