February 2021 - What's New at the Insurance Council
Submitted by Victoria on February 26, 2021 - 11:53am
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PDF version What’s New at the Insurance Council | February 2021 |
| Meeting Continuing Education Requirements – About the 2020 CE Extension We answer your questions about last year’s extension for 2020 CE credit requirements as well as this year’s requirements, both due May 31, 2021. Read More |
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| Update on the Continuing Education Guidelines: What’s Happening and Next Steps In May 2020 we launched a consultation on proposed new guidelines for Continuing Education requirements.This article provides an overview of what we heard during consultation, Council's decision, and what’s happening next. Read More |
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Completion of Supervision Period for New Life and Accident & Sickness Licensees A reminder that new life and/or accident & sickness agents and their supervisors need to submit a “Confirmation of Completion” form to the Insurance Council for approval when the new agent’s supervisory period is over. Until the Insurance Council receives and approves this form, the “under supervision” condition remains on the new agent’s licence. The minimum supervision period for a new life and/or accident & sickness agent is 24 months, rather than a maximum, so it’s important to complete and send in the form so that the conditions can be removed. You can find the form here under the heading 'Supervision/New Supervisor.' |
Online Applications for Individuals Coming Soon Exciting news! The Insurance Council is targeting the launch of an online application process for non-corporate insurance licences at the end of March. Online application for corporate licences is expected later in the summer. More information will follow on our website closer to launch. |
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Free Webinar for New Level 1 Salespersons Are you a new Level 1 Salesperson (licensed June 1, 2019, onwards) looking for information on your responsibilities and requirements? Curious to hear more about how the Insurance Council’s Temporary Rule Change on location restrictions impacts you as a Level 1 Salesperson? Join us for a free continuing education webinar held monthly that covers licensee requirements, an overview of continuing education requirements, the temporary rule change on location restrictions, and licence renewal. Attendees will receive 1 CE credit. Read more |
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Appointment to Council We are pleased to announce the following voting member appointment to the Insurance Council of BC: - Donna Thorne (Life Company - BMO Insurance)
See our website for more information about the members of Council. |
DISCIPLINE DECISIONS Anthony Bryan Chua Cua was disciplined for breaching the Insurance Council Rules, and Code of Conduct by unethically profiting from commissions received from ICBC for repeatedly processing one-year vehicle insurance policies for a vehicle dealership engaged in the export of vehicles, and then cancelling the policies a few days later.
Read More Eunice Chew Hoon Gan was disciplined for breaching the Financial Institutions Act, Insurance Council Rules, and Code of Conduct by providing unsuitable investment recommendations to an elderly client, and by failing to conduct an accurate needs analysis for the investments, respond to the client’s requests in a timely manner, and keep adequate records.
Read More Ting En (Brian) Lin was disciplined for breaching the Insurance Council Rules, and Code of Conduct by unethically profiting from commissions received from ICBC for repeatedly processing one-year vehicle insurance policies for a vehicle dealership engaged in the export of vehicles, and then cancelling the policies a few days later.
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