Wishing you every happiness this holiday season and throughout the coming year.
The entire team at ILScorp is truly grateful to you for choosing us as your educational provider.
We highly value our customers and it has been a sincere pleasure serving so many of you this year!
We hope you enjoy your online e-learning experiences with ILScorp. Your support and patronage along with your honest suggestions and feedback, has helped us shape our business now and for the future.
Again,thanks so much for choosing ILScorp.
We look forward to educating you for many years to come!
Please note Monday December 24 through to Friday December 28, 2018 the ILScorp offices will be closed for company holidays. We are back in the office on Monday December 31.
RIBO Ethics CE Requirement
The new license year of Oct 01, 2018 to September 30, 2019, brings new continuing education requirements for general insurance licensed individuals in Ontario.
The total number of required CE hours has not changed however a new category, Ethics, has been introduced and licensees must complete a minimum of 1 hour in this category per term.
ILScorp has developed a course that is RIBO approved for 1 CE in the new Ethics Category: Making the Right Ethical Decisions. This course is now available to all ILScorp General CE Subscribers!
In this course, we will look at the following topics as they relate to “Ethics and the
Insurance Professional”, specifically:
- Defining “Ethics”
- Establishing Ethical Standards – Sources of Influence
- Basic Ethical Values and What They Really Mean
- The Insurance Broker’s Dilemma
- What a Formal Ethics Program Will Do For Your Brokerage
Along with the new Ethics CE requirement, there is also a cap on the number of Personal Skills hours permitted and a minimum number of Technical hours required. Continuing Education Requirements are listed below.
RIBO CE Requirements
Principal Brokers and Deputy Principal Brokers
10 hours of continuing education credits every year between October 1st and September 30th subject to the following conditions:
- minimum of 1 hour Ethics
- minimum of 5 hours Management
- Personal Skills category courses cannot be applied
- The remaining hours may be in the Management or Technical categories.
A carryover of a maximum of 10 hours (or one term’s requirements) is permitted however the minimum category requirements must be maintained.
All other licensed individuals
8 hours of continuing education credits every year between October 1st and September 30th subject to the following conditions:
- minimum of 1 hour Ethics
- minimum of 3 hours Technical
- maximum of 2 hours Personal Skills may be applied
A carryover of a maximum of 8 hours (or one term’s requirements) is permitted however the minimum category requirements must be maintained.
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 only exempted for the remainder of the license year that they were registered.
E.g. Broker A was registered on November 1, 2017 and Broker B was registered on April 30, 2018. Neither Broker A, nor Broker B will be required to have accumulated any continuing education credits by September 30, 2018, but must begin taking the continuing education seminars/courses on October 1, 2018 for the 2018/2019 license term.
On November 1, 2018, new provisions in the Personal Information Protection and Electronic Documents Act (PIPEDA) related to breach of security safeguards came into force, along with breach of security safeguards regulations.
A privacy breach is the loss of, unauthorized access to, or disclosure of, personal information. Breaches can happen when personal information is stolen, lost or mistakenly shared.
Businesses subject to PIPEDA have certain obligations following a breach. These may include reporting to the Office of the Privacy Commissioner of Canada, notifying affected individuals and keeping certain records of privacy breaches.
To be compliant, it’s critical that organizations understand just what the requirements are, when the obligations, record-keeping, reporting and notification are triggered, and ensure they implement policies and procedures aligned with the law.
Most data breaches, whether accidental or malevolent, are in fact caused by an organization’s own employees. Implementing a plan to avoid and handle data breaches by its own employees is an important aspect of an its data breach risk mitigation plan generally and the Digital Privacy Act’s new data beach response requirements means more employee breaches are likely.
PIPEDA Explained Legislated Privacy Standards for Every Business Online Course Series
This 3 Part PIPEDA Series is available as part of the ILScorp General CE Subscription.
PIPEDA PART 1:
Lesson A: Understanding Privacy Laws
Introduction, Definitions and General Requirements
Lesson B: The Principles Begin with Accountability
The 10 Principles of the Privacy Code
Principle 1- Accountability
Lesson C: Identifying Purposes and Consent
Principle 2 – Identifying Purposes
Principle 3 – Consent
PIPEDA PART 2
Lesson A: Principles 4, 5 and 6
Principle 4 – Limiting Collection
Principle 5 – Limiting Use, Disclosure and Retention
Principle 6 – Accuracy
Lesson B: Principles 7, 8, 9 and 10
Principle 7 – Safeguards and Reporting Requirements
Principle 8 – Openness
Principle 9 – Individual Access
Principle 10 – Challenging Compliance
PIPEDA PART 3
Lesson A: The Privacy Commissioner and Complaints
Lesson B: Applications and Audits
Continuing Education Requirements for a Life and/or Accident and Sickness Licensee in Saskatchewan.
(1) Licensees are required to earn a minimum of fifteen credit hours of continuing education in each annual reporting period.
(2) Only credit hours earned in a reporting period are eligible unless written consent is provided by Saskatchewan Insurance Council.
(3) Failure to comply with the continuing education requirements shall result in a suspension of licence until the licensee has earned the required continuing education credit hours.
Definition of Continuing Education
(1) Only courses that provide technical education are considered to qualify as continuing education including courses that directly relate to:
(a) Life or accident and sickness insurance products;
(b) Financial planning provided that:
- a minimum of ten of the fifteen hours required per year is related to life or accident and sickness insurance; and
- a maximum of five of the fifteen hours required per year is related to non-insurance sectors such as securities and mutual funds;
(c) Compliance with insurance legislation and requirements such as Council’s Code of Conduct, Act and bylaws made pursuant to that Act, privacy legislation and anti-money laundering and anti-terrorist financing legislation;
(e) Errors and Omissions Insurance; and
Life/A&S Accredited CE Courses
Courses leading to an approved designation such as Chartered Life Underwriter (CLU), Certified Financial Planner (CFP), Registered Financial Planner (RFP), Certified Health Insurance Specialist (CHS), Certified Employee Benefit Specialist (CEBS), Personal Financial Planner (PFP), Certified International Wealth Manager (CIWM), Elder Planning Counselor (EPC) and such other designations as are approved by Council.
(2) To receive credit for the purposes of continuing education, the licensee must successfully complete the course.
(3) Courses, programs or meetings related to sales promotion, promotion, motivation or computer training do not qualify for credit hours.
(1) The education must take place in a structure dedicated to learning which can include,but is not limited to, classroom, seminar, on-line and self-study.
(1) One hour of instruction is equal to one hour of continuing education credit.
(2) A maximum of 8 credit hours will be allowed in one calendar day.
Reporting Requirement for Licensees
(1) Licensees must file an annual report stating the continuing education courses they have attended.
(2) Licensees must retain certificates issued by course provider(s) for inspection by councilin the event of an audit of the licensee’s records by council.
Provincial Licensing Regulations
The ILScorp offices will be closed Monday, November 12th in recognition of Remembrance Day.
Remembrance Day marks the anniversary of the official end of the World War I hostilities on November 11, 1918.
Take the time to remember and honour those who have, and who continue to, make sacrifices for our country.
We’ll be back Tuesday morning, ready to take your calls, answer your questions and register you for online insurance programs.
You can also register for our insurance training programs online, anytime, at ILScorp.com
At ILScorp we are committed to providing you with the best customer experience – and that begins with keeping you informed.
Canada Post postal workers across the country continue to carry out rotating strikes.
These labour disruptions may impact payments sent to ILScorp via mail.
Below is some important information that will help you stay informed of your group member charges and avoid late payment fees:
You can pay your ILS Group Member invoice, and all other invoices via credit card, by calling the ILScorp offices @ 1.800.404.2211 and speaking directly with one of our friendly customer service representatives.
You can also pay your ILS Group Member invoice, and all other invoices via cheque sent through ICS Courier or an alternate courier of your choice.
It’s important to note that you remain responsible for paying your bills on time even during the labour disruption. Thank you for using this information to avoid possible late payment charges.
In turn, ILScorp has been, and will continue to ship all ILS Textbooks through ICS Courier, to ensure our students receive their study material.