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Insurance Council of B.C. to get tough on tardy disclosure of address/phone number changes


September 13, 2010   by Canadian Underwriter


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The Insurance Council of B.C. is ready to crack down on licensees who fail to report changes to their address, email addresses or phone numbers.
Since 2006, the council’s licensing model has placed a greater responsibility on brokers and agents in the province to comply with council rules, including a rule to notify the council of any address and phone number changes within 30 days.
“Council is encountering a significant number of licensees who fail to comply with the various disclosure requirements,” Insurance Council of B.C. chairwoman Barbara MacKinnon notes in a message on the council’s Web site. “Until now, to allow the industry time to adjust to the changes introduced in 2006, council has been lenient when considering these cases.
“However, Council feels the adjustment should now be complete and, in the future, failure to act in accordance with council rules may result in disciplinary action.”


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