|
Insurance
News
Insurance
Overview
The office of the
Alberta Superintendent of Financial Institutions
(ASFI) of Alberta Finance regulates, in part,
the insurance business in Alberta under the
Insurance Act.
To contact the Superintendent
on insurance matters, please email insurance@gov.ab.ca
or see our detailed contact
information.
The Insurance Act
was rewritten to modernize the legislation, eliminate
duplication and overlap, and improve consumer protection.
New regulations under the new Insurance Act
were passed on July 11, 2001. Both the new Insurance
Act and Regulations came into effect on September
1, 2001. Click here to read the Insurance
Act and Regulations.
ASFI monitors the solvency
of provincially incorporated insurance companies.
ASFI also licenses insurance companies, and monitors
the regulation of insurance agents and adjusters,
which is handled by the Alberta Insurance Council.
ASFI maintains
a list of all insurance companies operating in Alberta
and their Attorney for Service. The list includes
companies that have withdrawn, amalgamated or changed
names. Licences are issued on a calendar year
basis (January 1 to December 31). Consumers
can use this list to verify if their insurance company
is licensed.
Health
Cost Recovery
The Hospitals Act
was amended effective August 1, 1996 to include
a provision to recover from third party liability
insurers the Crown's cost of health services provided
to victims of automobile accidents. Alberta Finance,
Tax and Revenue Administration, is responsible for
this recovery of health costs from insurers arising
from automobile accidents, under the Health Cost
Recovery program. Please see our web site section
on the Health
Cost Recovery program.
For
more information…
Click on Insurance
links for information on the Alberta Insurance
Council and insurance associations.
|
Contact
Us
