ALBERTA INSURANCE COUNCIL DEFINITION
The financial, investigative and administrative branch of the four insurance councils in Alberta. The Alberta Insurance Council (AIC) is meant to protect consumers by overseeing the licensing and stewardship of legislation as mandated by the Alberta Treasury Board and Finance for agencies, agents, and adjusters.
The AIC provides investigative and administrative services to all Alberta insurance councils including the Insurance Adjusters Council, the General Insurance Council, and the Life Insurance Council, as well as administrative services to the Continuing Education Accreditation Committee. The Councils are formed under the Insurance Act and derive their authority from delegations from the Minister of the Alberta Treasury Board and Finance.
How does this help me as an insurance consumer?
Shopping around for an agent or adjuster? Visit the Agent and Agency Lookup tool on the AIC website to see if the insurance professionals you are considering have met the current licensing requirements. All of First Foundation’s Insurance Brokers are licensed by the AIC.
Have a concern? Alberta insurance consumers who have a concern or complaint about an insurance agency, agent, or adjuster may submit a complaint to the AIC for investigation.
The AIC cannot investigate complaints concerning an insurer. Complaints relating to an insurer should be directed to the Office of the Superintendent of Insurance.
First Foundation Tips
Prior to April 2011, the AIC also handled complaints about insurance companies, but the Office of the Superintendent of Insurance now handles this function. The AIC can also tell consumers if an individual or company is an authorized insurance agent, broker, or adjuster in Alberta and what type of insurance they may sell; consumers can search for this information at the AIC’s website or contact the AIC office. Consumers can also find out if an agent, broker or adjuster has been disciplined by contacting the AIC office.
The AIC is an integral part of upholding the high standards and integrity of the licensed insurance professionals in Alberta. They cannot however advise consumers on matters relating to insurance needs or policy information. The best source for this information is always your insurance agent. We’d love to help you! Call or email today.