FROM THE INSURANCE COUNCIL OF MANITOBA
Renewal will be open in May, and the ICM will advise all licence holders via email when they may proceed with their renewal application.
Renewal 2023 showed that 455 renewal applications were flagged for manual review by the ICM. Of the 455 applications, 218 required review due to a disclosure of an additional occupation that was not previously reported to the ICM. This delayed the renewal of their licences, and in some instances, delayed their ability to renew prior to the deadline of May 31.
Additional common issues that the ICM sees on renewal applications, causing delays in renewal are:
1) Failure to report Material Changes within 15 days, such as an additional occupation and disciplinary actions. Material changes can include a disciplinary action, such as a Consensual Agreement and Undertaking, administrative penalty, civil penalty, an order, or any other form of offence, by any regulatory or licensing authority, other than the ICM.
A letter of caution, a warning letter, or a review/audit is not considered a disciplinary action and is not required to be reported.
2) Licence holders changing the province in which they live and failing to notify the ICM of this change within 15 days. This not only impacts the address of the licence holder but could potentially impact other mandatory licensing requirements such as their annual continuing education requirement.
Ensuring the correct disclosures are made as required will help avoid unnecessary delays during licence renewal.
For more information visit the ICM
