The Insurance Council is mandated by the BC Government to regulate the conduct of insurance intermediaries, and derives all funding for its regulatory work, licensing, and oversight activities for insurance intermediaries in the province of BC through fees collected from the industry, under the authority of the Financial Institutions Act.
Fees can be paid online via the Insurance Council portal by credit card (Visa or Mastercard or Amex) or Canadian debit card. Electronic Fund Transfer (EFT) is only available for a minimum of 40 licence renewal bulk payments by corporations.
Insurance Council fees are non-refundable. For applications that have been withdrawn, denied, or otherwise closed, only the government fee will be refunded.
The government fee is collected on behalf of BC Financial Services Authority (BCFSA) under the authority of the Financial Institutions Fees Regulation.
Individual Licence Fees
| Type | Insurance Council Fee | Government Fee | Total Amount |
|---|---|---|---|
| Individual licence application | $375 | $25 | $400 |
| Additional Government fee for licences issued March 1 to May 31 (will be charged when the application is ready for approval) | $25 | $25 | |
| Individual licence reinstatement application | $375 | $25 | $400 |
| General insurance trainee application | $100 | $100 | |
| Licence upgrade application | $225 | $25 | $250 |
| Individual annual licence fee (Annual Renewal Opens April 1, 2025) | $330 | $25 | $355 |
| Additional fee for late individual annual licence fee | $260 | $260 | |
| Individual or sole proprietor legal name change | $50 | $50 | $100 |
Agency/Firm Licence Fees
| Type | Insurance Council Fee | Government Fee | Total Amount |
|---|---|---|---|
| Agency/firm licence application* | $1000 | $25 | $1025 |
| Additional fee for licences issued March 1 to May 31 | $25 | $25 | |
| Agency/firm annual licence fee (Annual Renewal Opens April 1, 2025) | $625 | $25 | $650 |
| Additional fee for late agency/firm annual licence fee | $500 | $500 | |
| Agency/firm legal name change | $50 | $50 | $100 |
| Addition or removal of agency/firm trade name | $50 | $50 | $100 |
| Amendment to corporate ownership due to merger and acquisition* | $800 | $50 | $850 |
| Register material changes of ownership (controlling shareholders) | $125 | $50 | $175 |
*The agency/firm licence application fee applies where a merger (amalgamation) results in the creation of a new agency.
Course Fees
(mandatory courses related to licence)
| Course | Amount |
|---|---|
| Council Rules Course (life and/or accident & sickness insurance) | $150 |
| Council Rules Course (general insurance and adjusters) | $150 |
| Nominees Responsibilities and Best Practice Course (life and/or accident & sickness insurance) | $225 |
| Nominees Responsibilities and Best Practice Course (general insurance and adjusters) | $225 |
| Supervision Course for General Agents | $150 |
Other Transaction Fees
| Type | Amount |
|---|---|
| Licence information list* | $300 |
| Insurer fee** | $6,000 |
| Request for copying, printing or scanning | $1 per page |
*A complete list of all licensees, which includes licensee names, business addresses (if available), and employers (if applicable). Requests for a licence information list must be submitted to the Licensing team via email at licensing@insurancecouncilofbc.com.
**The Insurance Council collects an annual insurer fee from insurers authorized to conduct insurance business in BC as stated in the Financial Institutions Act.
LLQP Exam Fees
Examination fees are forfeited if the examinee fails to attend or reschedule a scheduled examination before its rescheduling deadline. If the examinee is unable to attend a scheduled exam due to a medical reason, they may reschedule their exam by submitting a written request along with a doctor’s note to the Examinations team for consideration.
For exams in Metro Vancouver, see the Exam Schedules for change deadlines.
For exams in BC regions outside of Metro Vancouver, examinees must contact the individual test centre directly to reschedule/cancel their exam(s), and notify the Insurance Council of the cancellation by cancelling the exam(s) through their online portal account. If the cancel notification is not provided at least 14 calendar days before the scheduled exam, examinees automatically forfeit the exam fee paid to the Insurance Council. Proctor rescheduling fees may apply as determined by the individual test centre, please review the test centre’s terms and policies for their rescheduling/cancellation procedure.
Metro Vancouver LLQP Exam Cost and Fees
| Exam Module | Amount |
|---|---|
| Full-day package (all four modules)* | $200 |
| Life Insurance | $75 |
| Segregated Funds and Annuities | $75 |
| Accident & Sickness Insurance | $75 |
| Ethics and Professional Practice (Common Law) | $75 |
| Ethics and Professional Practice (Civil Code - Quebec) | $75 |
| Rewrite of a single module | $75 |
*Only applicable to examinees writing all four modules in one day in Metro Vancouver (Vancouver or Surrey).
Exam Fees (BC Regions Outside of Metro Vancouver)
| Exam Module | Insurance Council Fee | Proctor Fee* |
|---|---|---|
| Life Insurance | $75 | Approximately $80 + GST |
| Segregated Funds and Annuities | $75 | Approximately $80 + GST |
| Accident & Sickness Insurance | $75 | Approximately $80 + GST |
| Ethics and Professional Practice (Common Law) | $75 | Approximately $80 + GST |
| Ethics and Professional Practice (Civil Code - Quebec) | $75 | Approximately $80 + GST |
| Rewrite of a single module | $75 | Approximately $80 + GST |
*Proctor fee applies to exams written in Cranbrook, Kelowna and Victoria, and is determined by the individual test centre, and is paid directly to the test centre.