Part 4
Repeals, Expiry and Coming into Force
14 Repeal
15 Expiry
16 Coming
into force
Part 1
Certificate Expiry
Expiry dates
1(1) A life insurance agent’s certificate of
authority issued, renewed, amended or reinstated
(a) during
the period from February 16 to the following December 15 expires on February 15
following the date of its issue, renewal, amendment or reinstatement;
(b) during
the period from December 16 to the following February 15 expires on February 15
of the year following the expiry of that period.
(2) An
accident and sickness insurance agent’s certificate of authority issued,
renewed, amended or reinstated
(a) during
the period from February 16 to the following December 15 expires on February 15
following the date of its issue, renewal, amendment or reinstatement;
(b) during
the period from December 16 to the following February 15 expires on February 15
of the year following the expiry of that period.
(3) Repealed
AR 93/2006 s2.
(4) A
general insurance agent’s certificate of authority issued, renewed, amended or
reinstated
(a) during
the period from November 1 to the following August 31 expires on October 31
following the date of its issue, renewal, amendment or reinstatement;
(b) during
the period from September 1 to the following October 31 expires on October 31
of the year following the expiry of that period.
(5) An
adjuster’s certificate of authority issued, renewed, amended or reinstated
(a) during
the period from June 1 to the following March 31 expires on May 31 following
the date of its issue, renewal, amendment or reinstatement;
(b) during the period from April 1 to the
following May 31 expires on May 31 of the year following the expiry of that
period.
AR 125/2001 s1;292/2002;93/2006
Part 2
Fees
Fees
2 The fees in sections 3 to 12 apply to
things done by an insurance council under the authority of the Act and those in
section 12.1 apply to things done by the Minister and the Accreditation
Committee under the Insurance Agents and Adjusters Regulation
(AR 122/2001).
AR 125/2001 s2;375/2003
Issue or renewal of
certificate
3 The fees payable by insurance
agents for the issue or renewal of an insurance agent’s certificate of
authority are as follows:
|
(a) to undertake general insurance
|
$95;
|
|
(b) to undertake life insurance
|
$95;
|
|
(c) to undertake accident and sickness insurance
|
$60;
|
|
(d) despite clause (a), to undertake general insurance limited to a
single class of insurance
|
$95.
|
AR 125/2001
s3;292/2002;375/2003;269/2004
Renewal
4 The
fee payable by adjusters for the issue or renewal of an adjuster’s certificate
of authority is $95.
AR 125/2001
s4;375/2003;269/2004;93/2006
Insurer
5(1) An insurer that
(a) is
licensed on July 1 in a year must, subject to clause (c), pay the Alberta
Insurance Council a fee of $750 on July 1 of that year;
(b) becomes
licensed after July 1 in a year but before July 1 of the following year must
pay a fee of $750 to the Alberta Insurance Council on the date that it becomes
licensed;
(c) becomes
licensed between April 1 and June 30 in a year and pays the fee required under
clause (b) is not required to pay a fee on July 1 of that year.
(2) The requirement to pay a fee under subsection
(1) in a year does not apply to a fraternal society if, in the preceding
calendar year, the society received premiums totalling less than $500 000 from
its members who, at the time of paying the premiums, were residents in Alberta.
AR 125/2001
s5;375/2003;93/2006
Amendment or
reinstatement of certificate
6 The fee payable for the amendment or
reinstatement of a certificate of authority is $25.
AR 125/2001 s6;
292/2002;375/2003
Status
7 The fee payable for a
certificate stating the certificate of authority status of an insurance agent
or adjuster is $25.
AR 125/2001 s7;375/2003
Duplicate
8 The fee payable for the issue
of a duplicate certificate of authority is $25.
AR 125/2001 s8;375/2003
Writing of
examinations
9 The following fees are payable to write
the respective qualifying examination:
(a) by
a general insurance agent $50;
(b) by
an insurance adjuster $50;
(c) by
an accident and sickness insurance agent $50;
(d) by
a full life insurance agent $100;
(e) by
a probationary life insurance agent
(subject to clause (f)) $50;
(f) by a probationary, who wishes to qualify
as a full, life
insurance agent $40.
AR 125/2001
s9;375/2003;269/2004
Oral exam
10 The fee payable by insurance adjusters
for oral examinations is $300.
11 Repealed AR 9/2003 s8.
Restricted insurance
agent
12 The fee payable for a restricted
insurance agent certificate of authority is as follows and is based on the number
of employees soliciting insurance on behalf of the restricted insurance agent’s
business:
|
(a) 1 ‑ 4 employees
|
$150;
|
|
(b) 5 ‑ 10 employees
|
$225;
|
|
(c) 11 ‑ 15 employees
|
$375;
|
|
(d) 16 ‑ 20 employees
|
$500;
|
|
(e) 21 ‑ 99 employees
|
$700;
|
|
(f) 100 ‑ 249 employees
|
$1500;
|
|
(g) 250 ‑ 499 employees
|
$3000;
|
|
(h) 500 ‑ or more
|
$5500.
|
AR 125/2001 s12;375/2003
Continuing education
12.1(1) The
fee payable by a continuing education provider,
(a) for
the year in which an approval of the provider under section 29(2) of the Insurance
Agents and Adjusters Regulation (AR 122/2001) is applied for (whether
successfully or not) and for each subsequent year in which such an approval is
held, is $250, and
(b) for
applying for an approval under section 29(2.1) of that Regulation in respect of
each particular continuing education course, is $100.
(2) Continuing
education providers shall pay the fees under subsection (1) to the Alberta
Insurance Council.
AR 375/2003 s10
Part 3
Penalties
Section 480 penalties
13(1) For
the purposes of section 480(2) of the Act, the amount of the penalty that may
be imposed may not exceed the following:
(a) $5000
for a matter referred to in section 480(1)(a) of the Act;
(b) $1000
for a matter referred to in section 480(1)(b), (c), (d) or (e) of the Act.
(2) The rate of interest prescribed for the
purposes of section 480 of the Act is 12% per annum, prorated in respect of any
part of a month, on the unpaid balance.
AR 125/2001 s13;93/2006
Part 4
Repeals, Expiry and
Coming into Force
Repeal
14 The Fees,
Forms and Certificates Expiry Regulation (AR 478/81) is repealed.
Expiry
15 For the purpose of ensuring
that this Regulation is reviewed for ongoing relevancy and necessity, with the
option that it may be repassed in its present or an amended form following a
review, this Regulation expires on April 30, 2016.
AR 125/2001 s15;93/2006
Coming into force
16 This Regulation comes into force on the
coming into force of any section of the Insurance Act (SA 1999 cI‑5.1).
