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ARTICLE · 15 JANUARY 2026

Key Requirements For British Columbia's New Restricted Insurance Agency Licensing Framework

McMillan LLP
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As noted in our previous bulletin, on December 18, 2025, the Government of British Columbia introduced a new restricted licensing framework for businesses...

CanadaInsurance
Darcy Ammerman
Darcy Ammerman
Delina Wen
Delina Wen
Daniela Hartmann
Daniela Hartmann
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As noted in our previous bulletin, on December 18, 2025, the Government of British Columbia introduced a new restricted licensing framework for businesses that sell insurance products incidental to their primary business activities, effective January 1, 2027.

On January 7, 2026, the Insurance Council of British Columbia ("Council") released an update outlining the qualification requirements and ongoing compliance obligations for obtaining and maintaining a Restricted Insurance Agency ("RIA") Licence.

Obtaining an RIA Licence: Qualification Requirements

Under the proposed licence program, businesses applying for an RIA Licence will be required to:

  • Provide Business information including contact information, ownership details, corporate registration information, and disclosure of information that may affect the agency's suitability to hold an RIA Licence, such as bankruptcy history, regulatory discipline, or criminal convictions.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

© McMillan LLP 2025

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