ILScorp Blog
The latest and greatest info from ILScorp!Office Closure Monday September 19, 2022
In honour of more than 70 years of service and dedication to the people of the province, the Government of BC is declaring Monday, September 19, 2022, as a day to honour the memory of Her late Majesty, Queen Elizabeth II.
On this day, provincial government offices, schools and other entities will be closed. In observance of the national day of mourning to mark the Queen’s passing, ILScorp offices will also be closed on Monday September 19th, 2022.
Thank you.
ILScorp
2022 License Renewals – Deadline June 30th
There is no “grace period.” Once your certificate has expired automatically on June 30th, you are no longer authorized to act as an insurance agent/adjuster until a certificate has been issued. You will be required to submit a new on-line application that is approved by your recommending insurance company or Designated Representative (as applicable), and submit it with the appropriate fee payment.
Compliance Audit for Continuing Education – AIC
As the AIC conducts the Continuing Education (CE) Audit, many questions are received in relation to the topics noted below. As such, we have provided answers to the commonly asked questions. What is the requirement for Continuing Education? All Life, Accident and Sickness and General Insurance Agents and Adjusters renewing their certificate of authority (license) are required to complete in each certificate term at least 15 hours of the approved continuing education courses.
Changes to structure of BC licence and application fees
Rule change differentiates between individual and corporate license fee, rebalances costs. Changes to a number of Insurance Council fees will be in effect for the upcoming license year that starts June 1. This includes increases to license and application fees, and differences in individual and corporate licenses. A notable aspect of the changes is that they introduce a revised fee structure that rebalances how regulatory oversight is funded by licensees.
Does My Assistant Need an Insurance License?
There are many instances where licensed individuals may utilize the services of unlicensed assistants. Recently, The Manitoba Insurance Council has received inquiries as to what types of activities require licensure. By licensing agents, brokers and adjusters, Council ensures adequate education and experience standards are met and continued, and that individuals are financially reliable by maintaining continuous professional liability insurance (Errors and Omissions coverage), in order to protect the public.
New Life CE Course – Client Focused Reforms
The Client Focused Reforms that came into effect in 2021 have created a significant amount of dialogue, and more than a few questions. Stakeholders want to be prepared for the changes, to meet the expectations, and to incorporate practices which will result in the desired goals. Several branches of the industry have come together in a committee to respond to the questions posed by stakeholders. The Canadian Securities Administrators (CSA) convened a Client Focused Reforms Committee which includes members of its own, as well as staff from the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada.
New CE Course – Cargo Coverage and Claims
Cargo claims represent one of the largest categories of property and liability claims both in number and value. The purpose of this course is to prepare the participant to competently handle the discussion of cargo coverage and its important benefits, as well as to explain and assist in the claims process.
Alberta Auto – New Courses
Two new Alberta Auto courses now available to all ILScorp General CE Subscribers. Alberta Personal Automobile Insurance and Alberta Commercial Automobile Insurance. Both courses are included in the ILScorp General CE Course Subscription
About the Alberta Personal Automobile Insurance CE Course
How to Start Your Online Alberta Level 1 Courses
Pathway to Your Alberta General Level 1 License. ILScorp is an approved General Level 1 Educator and our licensing Program has everything you need in one package to successfully pass your Alberta Level 1 General Insurance licensing exam. See below for a quick outline on how to get started with your program.