BC's new RIA regulation means hundreds of businesses — from car dealerships to mortgage brokers — will need a licence to keep selling add-on insurance. Find out if you're affected in 2 minutes.
The BC government passed the Restricted Insurance Agent Licence Regulation, effective January 1, 2027. If your business sells insurance alongside your products or services, you may need a new licence — or face enforcement.
Businesses previously exempt from insurance licensing will now need a Restricted Insurance Agency (RIA) licence to continue selling add-on insurance products.
Every employee who sells or offers insurance must complete accredited training. Your business must appoint a Designated Representative for oversight.
The Insurance Council of BC will oversee compliance. Unlicensed sales after the deadline may result in enforcement action under the Financial Institutions Act.
The regulation identifies specific business types and the insurance products they're permitted to sell.
Don't wait until the last minute. Here's what's coming and when.
BC government publishes the Restricted Insurance Agent Licence Regulation.
Insurance Council of BC begins consultation on the rules governing the RIA licence.
Insurance Council begins accepting RIA licence applications. Start early to avoid the rush.
The RIA licence requirement officially comes into force. Unlicensed insurance sales become non-compliant.
All affected businesses must have applied for their RIA licence by this date.
Answer 5 quick questions and we'll tell you whether your business needs a Restricted Insurance Agency licence.
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It's a new BC regulation (effective January 1, 2027) that requires certain non-insurance businesses to obtain a Restricted Insurance Agency (RIA) licence if they sell insurance products alongside their primary goods or services. It's overseen by the Insurance Council of BC.
After the transition period (March 31, 2027), selling insurance without an RIA licence is non-compliant with the Financial Institutions Act and may be subject to enforcement action by the Insurance Council of BC.
Generally no. If you hold a standard general insurance licence, the RIA licence doesn't apply to you. However, if your existing licence is limited to products now covered by the RIA regulation, you may need to transition. Contact the Insurance Council for your specific situation.
All employees who sell or offer insurance products under your RIA licence must complete accredited training that meets the Insurance Council's core competency standards. Your business must also appoint a Designated Representative responsible for compliance oversight.
The Insurance Council expects to begin accepting RIA licence applications in November 2026. We recommend preparing your application early. The deadline to have applied is March 31, 2027.
This specific regulation applies to BC. However, Alberta, Saskatchewan, Manitoba, and New Brunswick already have similar restricted insurance licensing frameworks. If you operate in multiple provinces, you may have obligations in each.