Insurance Company Assessments

Under provisions of the Insurance Act and the Certificate Expiry, Penalties and Fees Regulation, all insurance companies operating in Alberta are required to pay an annual assessment to the Alberta Insurance Council . The fee is due on July 1st of each year. Fees that remain unpaid after 30 days are subject to a penalty equal to 50% of the unpaid. The AIC generates invoices for this fee and delivers those to insurance companies in early June. The amount of the fee is $750.00.