Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
18 Requirement for licence
business in Alberta unless the insurer holds a valid and subsisting
licence.
(2) Except as provided for in this Act, no insurer may insure a risk
in Alberta unless the insurer holds a valid and subsisting licence for
a class of insurance that covers that risk.
(3) Except as provided for in this Act, no person may enter into or
renew a contract of insurance to insure a risk in Alberta with an
insurer unless
(a) the insurer holds a valid and subsisting licence, and
(b) the licence held by the insurer authorizes the insurer to
undertake a class of insurance that covers the risk that is
insured.
1999 cI-5.1 s18