What is the function of the Insurance Council of Manitoba?
The Council's role is to administer the regulatory legislation governing insurance agents/brokers operating in Manitoba.
The Insurance Act of Manitoba provides the Insurance Council with the authority to regulate who can operate as an insurance agent/broker. These regulations are designed to protect the public.
How does the Insurance Council of Manitoba provide this protection to the public?
When considering an application for license, the Insurance Council must be satisfied the applicant meets all prescribed educational and experience qualifications, is trustworthy, competent and financially reliable and intends to properly carry on the business as an insurance agent/broker, in good faith and in accordance with the usual practice of the business of insurance.
The Insurance Council must determine when an agent/broker is operating in contravention of the requirements as set out in the Insurance Act of Manitoba, its regulations, governing policy and the Code of Conduct. Where the Insurance Council determines that such a contravention has occurred, the Insurance Council has the authority to discipline the licensee.
How are Council Members appointed?
Council members are appointed by the Minister of Finance for a three (3) year term pursuant to Regulation under the Insurance Act of Manitoba. Each industry Council consists of six (6) persons, at least half of whom must be licensed under the Act. All members appointed may be reappointed for one (1) additional term of three (3) years.
Why doesn't Council provide us with business building ideas?
Council is the regulatory body for insurance agents and adjusters. Council has been mandated with setting the standards and educational requirements for licensees. We are not however a training ground for agents or prospective agents. Our role is to ensure that the laws as they relate to insurance agents are followed. Agents should be relying on independent insurance educational associations, their companies, or their MGA's to provide ongoing support and education.
Where can I find sections of the Insurance Act of Manitoba and/or the Manitoba Regulations?
The entire Insurance Act of Manitoba can be found on the Province of Manitoba web-site along with the Manitoba Regulations or on our Home Page.
Licensing (including E&O, Credit Hours, Examination information, etc.)
What is the Council doing to reduce the cost of Errors & Omissions Insurance for agents?
Council does not have jurisdiction over insurance companies, nor is it within our mandate to compel insurance companies to reduce their premium rates. The principle of insurance is all about the sharing of risk. Underwriters are the employees of the insurance companies who are involved in many aspects of the process, including risk assessment, selection and rating.
If I allow my licence to lapse, how long do I have to reinstate my licence until I am subject to re-writing an exam?
If the licence of any holder is inactive for a period exceeding 12 months, the licence can not be reinstated without the applicant first satisfying the licensing requirements for the issue of that licence as stated in the Insurance Act of Manitoba, the Regulations under the Act and the Licensing Rules. In addition, you may be subject to undertaking a written examination should you wish to reinstate your licence, in accordance with Section 2(1) of Regulation 389/87.
With the completion of the LLQP, am I requred to obtain credit hours for the upcoming renewal?
With the successful completion of the LLQP, you are exempt from the required 15 Continuing Education Credit Hours (CEC's) for that licensing period only. You are required to accumulate 15 Credit Hours for each licensing year thereafter. For example: You become licensed with our office in March 2007 - you are therefore exempt from obtainining CEC's until May 2007 of that same year. You are required to begin obtaining your 15 CEC's in June 2007 and must submit them to our office in May 2008 of the following year.
I am a general (property & casualty) broker and have been approached by Medical Access Insurance (MAI) to promote their product. Can I do this with a general licence?
Yes, it is permissable under Section 372(b) Classes of Licenses of The Insurance Act of Manitoba for a general broker to promote this product.
With the New Driver's Licence Program, is it permissable for all unlicensed persons to perform duties relating to driver's licence photos?
No. Only licensed brokers should be renewing driver's licenses as there is an insurance component connected to driver's licenses.
I currently hold a valid licence and I am considering filing an assignment in bankruptcy. Will I have to give up my licence?
No, but you will be required to file all documents issued, including list of creditors, as well as a copy of your discharge document, once received.
If I am unable to locate a copy of my bankruptcy discharge, will Council acknowledge a written statement from me as confirmation that I have been discharged?
No, you will need to either contact the Trustee that handled your bankruptcy, or you can visit the Office of the Superintendent of Bankruptcy Canada's website to request the document online.
If I, as a new licensee, have been discharged from my bankruptcy over seven (7) years ago, do I still need to provide Council with a copy of my discharge document?
Yes, as part of the licensing review process, new licensees must have received either an Absolute Discharge or have already met the conditions and been discharged from a Conditional Discharge, before Council will proceed with licensing.
If I attend a seminar that has been accredited for both life and general credit hours, can I split the credit hours between my life and general licence?
No. Credit hours can only be assigned to one (1) class of licence.
When I am audited for continuing education what happens if I can not provide Council with the certificates that I listed on my Continuing Education Renewal Application Supplement Form?
Every Life, Accident & Sickness and General Insurance Agent/Broker will be required to complete a Continuing Education Renewal Application Supplement Form attesting that they have proof of completion of the course(s). This form is included with the renewal applications which are mailed out mid-April.
If an agent provides our office with false information and in fact did not attend the course(s) listed on their Supplement Form, the agent may be subject to disciplinary action.
If an agent cannot locate their certificate but did in fact attend the course, they must contact the course provider and request a duplicate copy of their certificate to provide to our office.
I need a licence in another province/state, who do I contact and what are the steps to obtaining one?
In order to conduct business in another province/state you will be required to contact the regulatory authority in that specific jurisdiction. A full list of Canada's regulators can be found in the links section of our website.
Where can I find more information regarding the Life Licence Qualification Program (LLQP)?
Additional information about the LLQP (FAQ's, Course Curriculum, sample exam questions, etc.) can be found on the CCIR-CCRRA web-site.
If I am approached by a person selling insurance, is it possible for me to find out whether this person is licensed?
The public may call or write to the Insurance Council of Manitoba or check the "Agent/Agency Search" to inquire into the licensing status of a person, including any conditions that may apply to the licence.
How long must a brokerage retain files of ex-policy holders?
There is no provision within the Act that relates to the retention of records; however, it is the position of the Council that in keeping with good business practice, files be maintained for seven (7) to ten years.
Information regarding Complaints
What is the procedure for making a complaint to the Insurance Council?
Complaints made to the Insurance Council must always be in writing and must be signed by the complainant. In making a complaint, one should be accurate and provide as much detail as is available. The complaint should include the names and addresses of all participants and include any supporting documentation that may be necessary. Complaint forms are available here.
If I am having problems with my insurance company, can I complain to the Insurance Council of Manitoba?
The Insurance Council is only responsible for the licensing of insurance agents/brokers. The Superintendent of Insurance is responsible for the regulation of insurance companies and any inquiry of that nature should be directed to the Superintendents office.
The Superintendent of Insurance can be reached by writing to: Superintendent of Insurance, Woodsworth Building, 1115-405 Broadway, Winnipeg, Manitoba R3C 3L6. Phone number (204) 945-2542.
As a licensee, if a complaint is lodged against me, will I be made aware of the complaint immediately?
In most cases, after the Insurance Council receives a complaint and determines it requires investigation or review, the licensee will be contacted with the nature of the complaint.
Can the Insurance Council help with any financial disputes I may have with my insurance agent?
Financial disputes between an insurance agent and a client do not usually fall within the responsibility of the Insurance Council. In some cases a financial dispute may bring into question a disciplinary action against the licensee being considered, however, the Council has no jurisdiction in civil matters and cannot assist in resolving monetary disputes.
