Insurance Fee Schedule

a man using a calculator, pen in hand

Every insurance company and fraternal benefit society incorporated in B.C. that held a business authorization for this province at the end of its latest fiscal year is required to pay an annual fee. This annual fee is calculated using the table prescribed under Schedule 1, Item 11.1 of the Financial Institutions Fees Regulation (Fees Regulation) applied to direct premiums written in B.C. of the company at its fiscal year end.   The deadline for payment of the annual fee is 60 days after the latest fiscal year end.

The Annual Fee Schedule (below) sets out the method for calculating the annual fee.

Please pay the Insurance Company Annual Fee through the IRIS. IRIS will calculate the annual fee based on your company’s direct premiums written in British Columbia.

Making payments in IRIS

Introduction to IRIS

You may pay by credit card (maximum $6,000), Electronic Fund Transfer (EFT), or cheque. Be sure to indicate your method of payment and complete the required fields in the IRIS Portal. Please refer to instructions for using the IRIS Portal for payments.

You will receive a payment confirmation by email once your payment has been received.

You are responsible for ensuring your payment is received before the deadline. Under the Interest on Overdue Accounts Receivable Regulation of the Financial Administration Act and Section 20 of the Financial Administration Act, interest may be charged on overdue amounts at a rate prescribed by the Treasury Board.)

  • Annual Fee Schedule

    Schedule 1, Item 11.1 of the Fees Regulation requires every B.C. incorporated insurance company and B.C. incorporated fraternal benefit society authorized to conduct insurance business in the province of British Columbia to pay BCFSA an annual fee. Please use the IRIS to calculate and pay the annual fee.

    This annual fee is calculated by applying the table outlined in Schedule 1, Item 11.1 of the Fees Regulation, summarized in the table below, to the company’s direct written premiums from insurance business carried on in British Columbia as at the company’s fiscal year end.

    Fiscal Year End Total  
    Non-consolidated Assets
    Fiscal Year End Direct Premiums Written in B.C.
    $100 million or less of total non-consolidated assets$5,000 + 0.019% of direct premiums written in B.C.
    Greater than $100 million to $1 billion of total non-consolidated assets$7,500 + 0.019% of direct premiums written in B.C.
    Greater than $1 billion of total non-consolidated assets$10,000 + 0.019% of direct premiums written in B.C.

    Also refer to the below listed asset and premiums page numbers.

    1. Asset page reference

    Annual ReturnAppropriate Asset Page ReferenceAppropriate Asset Line and Column Reference
    P&C page 92.10line 89, column 1
    LIFEpage 70.010line 899, column 1

    2. Premiums page reference

    Annual ReturnAppropriate Premiums Page ReferenceAppropriate Premiums Line and Column Reference
    P&C page 67.10 or 93.30line 79, column 10
    LIFEpage 95.010 Sum of lines 020, 120, 220, 320, 420, and 520, column 10
  • Annual Fee Schedule

    Schedule 1, Item 11.1 of the Fees Regulation requires every extraprovincial insurance company and extraprovincial fraternal benefit society authorized to conduct insurance business in the province of British Columbia to pay BCFSA an annual fee. Please use the IRIS Portal to calculate and pay the annual fee.

    This annual fee is calculated by applying the table outlined in Schedule 1, Item 11.1 of the Fees Regulation, summarized in the table below, to the company’s direct written premiums from insurance business carried on in British Columbia as at the company’s fiscal year end.

    Fiscal Year End Total  
    Non-Consolidated Assets
    Fiscal Year End Direct Premiums Written in B.C.
    $100 million or less of total non-consolidated assets$5,000 + 0.019% of direct premiums written in B.C.
    Greater than $100 million to $1 billion of total non-consolidated assets$7,500 + 0.019% of direct premiums written in B.C.
    Greater than $1 billion of total non-consolidated assets$10,000 + 0.019% of direct premiums written in B.C.

    Also refer to the below listed asset and premiums page numbers.

    1. Asset page reference

    Annual ReturnAppropriate Asset Page ReferenceAppropriate Asset Line and Column Reference
     P&C page 20.10 or 92.10line 89, column 1
     LIFEpage 20.010 or 70.010line 899, column 1

    2. Premiums page reference

    Annual ReturnAppropriate Premiums Page ReferenceAppropriate Premiums Line and Column Reference
    P&C page 67.10 or 93.30line 79, column 10
    LIFEpage 95.010Sum of lines 020, 120, 220, 320, 420, and 520, column 10