| HISTORY/BIOGRAPHICAL SKETCH: | Dates of Founding and/or Dissolution:
The Superintendent of Insurance was established in 1913.
Functional Responsibility:
The Alberta Insurance Act (S.A. Chapter 16, 1913) was created to regulate the Insurance business in Alberta. Under this legislation the Superintendent of Insurance was charged with the general supervision of the business of insurance within Alberta. The Superintendent functioned to ensure that the laws relating to the conduct of the business of insurance are enforced and obeyed.
The Superintendent of Insurance was required by legislation to conduct an annual inspection of licensed insurers. These inspections included verification of statements of condition and affairs of each insurer filed under the Act. The Superintendent of Insurance would make the necessary inquiries to ascertain the insurer's condition and ability to provide for the payment of its contracts as they mature, and the organizations compliance with the Act.
Insurance companies, agents, brokers and adjusters doing business in Alberta must be licensed under the Insurance Act. Insurance companies must satisfy certain financial standards in order to be licensed. The Superintendent of Insurance examines the financial conditions of provincially incorporated insurance companies.
Administrative Relationships:
The Superintendent of Insurance examines and reports to the Minister charged with the act all matters connected with insurance. The Superintendent of Insurance worked in co-operation with the federal and other provincial and territorial superintendents to maintain uniformity in insurance legislation and to deal with issues relating to the insurance industry.
The 1913 Alberta Insurance Act established the Superintendent of Insurance under the jurisdiction of the Provincial Treasurer. At this time the Insurance Branch was within the Department of Treasury. In 1935 the administration of the Alberta Insurance Act was transferred to the Provincial Secretary's Department. Under the new jurisdiction the Insurance Branch managed matters pertaining to both insurance and real estate. In 1946 the administration of the Alberta Insurance Act was transferred to Economic Affair Department. With the abolishment of Economic Affairs in 1959 the jurisdiction for the act was returned to the Provincial Secretary. In 1971, the Provincial Secretary existence as a separate department was terminated. The responsibility for the act was transferred to the Department of the Attorney General. In 1973 the Department of Consumer and Corporate Affairs was established and the Insurance and Real Estate Branch created within the Department. Consumer and Corporate Affairs administrated the Alberta Insurance Act until the department dissolution in 1992. At this time the Superintendent of Insurance return to the jurisdiction of the Treasury Department.
Administrative Structure:
The Superintendent of Insurance and his deputy supervise the affairs of regulating insurance in Alberta.
The Superintendent of Insurance has delegated responsibility for the regulation of insurance agents, brokers, and adjusters to Insurance Councils. The Councils, comprised of industry and public members, are charged with the responsibility of issuing licences and investigating complaints. Insurance agents, brokers and adjusters must pass a qualifying examination and meet other requirements in order to obtain a licence.
Names of Chief Officers:
Bernard Rodrigues [1989]-[1998]
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| SCOPE AND CONTENT: | The sous-fonds consists of the following series:
- Special broker records, 1944-1993
- Provincially Incorporated Insurers financial records, 1918-1989
- Provincially Incorporated Insurers license records, 1907-1992
- Federal and Extra Provincial Insurers financial records, 1970-1986
- Insurance agent records, 1949-1990
- Insurance Bureau of Canada records, 1949-1968
- Withdrawn license records, 1964-1989
- Operational records, 1907-1987
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