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Superintendent of Insurance : enforcement activities

Description

To protect consumers and enhance public confidence in insurance, the Alberta Superintendent of Insurance monitors, investigates and takes appropriate regulatory action when there is non-compliance... More ≫

Description

To protect consumers and enhance public confidence in insurance, the Alberta Superintendent of Insurance monitors, investigates and takes appropriate regulatory action when there is non-compliance with the Insurance Act and Regulations. Regulatory action includes administrative penalties, cease and desist orders, compliance undertakings and court prosecutions. In all cases involving regulatory action, there will be public notification on the Government of Alberta website at http://insurance.alberta.ca/bulletins. This document contains enforcement activities undertaken by the Alberta Superintendent of Insurance and is updated to add new information as necessary.

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Guideline to intervention for Alberta’s property and casualty (P&C) insurers

Description

Pursuant to section 817 of the Insurance Act, this Guideline is part of an agreement on intervention strategies made between the President of Treasury Board and Minister of Finance and the... More ≫

Description

Pursuant to section 817 of the Insurance Act, this Guideline is part of an agreement on intervention strategies made between the President of Treasury Board and Minister of Finance and the Property and Casualty Insurance Compensation Corporation (“PACICC”). This Guideline sets out the intervention process, roles and responsibilities and supervisory actions that the Minister’s delegate, the Superintendent of Insurance, and the Superintendent’s office may take, in coordination with the PACICC, to address concerns identified with a provincially incorporated insurance company.

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Superintendent of Insurance : supervisory framework

Description

The Superintendent of Insurance supervises and regulates provincially incorporated insurance companies and reciprocal insurance exchanges in Alberta. This includes insurance companies or... More ≫

Description

The Superintendent of Insurance supervises and regulates provincially incorporated insurance companies and reciprocal insurance exchanges in Alberta. This includes insurance companies or reciprocal insurance exchanges either formed under the Alberta Insurance Act or who have transferred to Alberta such that Alberta is their primary regulator. The Superintendent determines whether they are in sound financial condition and are complying with the legislative requirements and supervisory expectations. To accomplish this, the Superintendent uses a risk‐based supervisory framework to identify imprudent or unsafe business practices within the insurance industry and intervenes on a timely basis, as required. This document describes the principles, concepts and core process used in this supervisory framework.

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Alberta Superintendent of Financial Institutions : supervisory framework

Description

The Supervisory Framework for the Office of the Alberta Superintendent of Financial Institutions (ASFI) describes the principles, concepts, and core process that ASFI uses to guide its supervision... More ≫

Description

The Supervisory Framework for the Office of the Alberta Superintendent of Financial Institutions (ASFI) describes the principles, concepts, and core process that ASFI uses to guide its supervision of Alberta-regulated financial institutions (ARFIs). The principles, concepts, and core process apply to all ARFIs in Alberta, irrespective of their size, ownership structure, nature and complexity. For more information, visit this website: financial-institutions.alberta.ca.

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