Insurance Company Assessments

Under provisions of the Insurance Act and Insurance Agents and Adjusters Regulation (A.R. 122/2001), 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.