News and Bulletins
DEFERRAL OF CONTINUING EDUCATION CREDIT HOURS FOR THE 2020 LICENCE RENEWAL
The Insurance Council of Manitoba continues to monitor and assess developments in COVID-19 and recognizes the challenges for licence holders to complete all required Continuing Education Credits in the current environment. ICM has been working with the Superintendent of Financial Institutions so that regulatory framework issues do not unduly restrict industry, while still ensuring that Manitoba consumers are protected.
The Superintendent of Financial Institutions has approved that the requirement for mandatory Continuing Education (CE) reporting for 2020 has been deferred to May 31, 2021 for all licensed agents, and June 30, 2021 for all licensed adjusters. This means that all Manitoba licence holders who are required to report CE credits are able to renew their licences in May 2020 (June 2020 for adjusters) without having to complete or report their mandatory Continuing Education for this year.
The requirement is deferred to being reported prior to renewal of licences in 2021, which means the following number of Continuing Education Credits (CECs) will be required at that time:
- General insurance agents: 16 CECs completed and reported prior to May 31, 2021;
- Auto Only insurance agents: 8 CECs completed and reported prior to May 31, 2021;
- Independent adjusters: 16 CECs completed and reported prior to June 30, 2021;
- Life and/or A&S agents: 30 CECs completed and reported prior to May 31, 2021.
For those licence holders that have completed any portion of their CE hours already, those hours will be applicable to the 2021 credit hour renewal (including unused carry forward credits for General, Auto or Adjusters). For example, if a general licence holder currently has 4 credit hours applied/reported in the CE system, they would be required to obtain 12 additional CE credits to renew their licence in May 2021.