All licensees are required to meet the continuing education (CE) requirements outlined below for each license year.
A license year runs from 01JUN to 31MAY annually.
If a licensee has been licensed for any part of a license year, the individual must meet the full number of continuing education requirements, whether the license was active or inactive.
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)
View Online CE Subscriptions
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.
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.
Resource link: http://www.insurancecouncilofbc.com/publicweb/ContinuingEducation.html
