There are four Insurance Councils, The Alberta Insurance Council, the Insurance Adjusters’ Council, the General Insurance Council and the Life Insurance Council. The Alberta Insurance Council is the financial arm of the councils and provides investigation and administrative services to the other councils. The Alberta Insurance Council also provides administrative services to the Continuing Education Accreditation Committee appointed by the Minister of Finance.
The Insurance Adjusters’ Council, General Insurance Council and the Life Insurance Council are the regulatory bodies responsible for licensing and discipline of insurance agents, brokers and adjusters in the Province of Alberta. The Councils are formed under the Insurance Act and they derive their authority under a delegation from the Minister of Finance for the province.
The Alberta Insurance Council and the Ministry of Treasury Board and Finance work together to ensure consumers are protected and companies, insurance adjusters and insurance agents operate at the highest standards.
Effective April 1, 2011, issues, concerns or complaints regarding insurance companies previously handled by the Alberta Insurance Council will now be dealt with by the Office of the Superintendent of Insurance. The AIC will continue to deal with existing insurance company complaints opened prior to April 1, 2011 to come to a resolution of those complaints.
Issues, concerns or complaints regarding insurance agents or licensed independent insurance adjusters will continue to be dealt with by the AIC.