Functional Responsibility:
The Alberta Insurance Council was established as a Crown Corporation that functioned to regulate insurance agents and adjusters in Alberta in the Insurance Amendment Act, 1988 (S.A. Chapter 25, 1988). The function of investigation of complaints against insurance companies was transferred to the Alberta Insurance Council from the Superintendent of Insurance in 1993. During 1996 plans were made for the Alberta Insurance Council to become a Crown controlled corporation, for fees to be payable to the Council so that agents, adjusters and insurers bear their proportionate share of the regulatory cost.
The Alberta Insurance Council became a provincial Crown-controlled corporation in 1997. The Alberta Insurance Council functions to ensure a fair and efficient marketplace for the distribution of insurance products. The Alberta Insurance Council is responsible for conducting examinations, licensing, regulating and disciplining insurance agents, brokers and adjusters in Alberta. The Alberta Insurance Council functions to investigate consumer complaints against the industry. As a Crown-controlled corporation, Alberta Insurance Council now retains all examination and licensing fees to pay operational costs, instead of these fees being remitted to Alberta Treasury.

Predecessor and Successor Bodies:
The Superintendent of Insurance administrated the function of regulating insurance agents and adjusters in Alberta previous to delegating this function to the Alberta Insurance Council.

Administrative Relationships:
The Alberta Insurance Council began reporting to the Minister of Alberta Treasury in 1988. In 2001 the Council was transferred to the jurisdiction of the Minister of Finance. The Superintendent of Insurance has delegated responsibility for the regulation of insurance agents, brokers, and adjusters to Insurance Councils. The Lieutenant Governor in Council is not involved in the appointment of members. The corporation is independently funded through the collection of fees.

Administrative Structure:
The Alberta Insurance Council is composed of two appointed public member and one member appointed by each of the following Councils: the Life Insurance Council; General Insurance Council; and Insurance Adjuster Council.

Names of the Corporate bodies:
The Alberta Insurance Council is also known by its acronym AIC.

Names of Chief Officers:
Chairman of the Alberta Insurance Council
G. A. Wentworth [1995]-1996
Lorna Heigerg 1996-1998
Neil Miller 1998-2000
Guy Bourgeois 2000-2001
Ray Wold 2001-[2002]