Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
61 Subpart 2 Exceptions Unsolicited Insurance Unsolicited insurance
undertake insurance in Alberta with an insured if
(a) the insurance is effected without any solicitation whatsoever
on the part of that insurer, and
(b) the insured, not later than 30 days after signing the contract
of insurance or receiving any policy, interim receipt or
insuring document issued by or on behalf of the insurer,
whichever occurs first,
(i) notifies the Superintendent in writing under oath of the
terms of the insurance, the insurer with whom the
insurance is placed and the amount of premium paid or
payable or premium notes given or to be given in
connection with the insurance, and
(ii) at the same time pays to the Minister a charge equal to
10% of the premium paid or payable or premium notes
given or to be given in connection with the insurance.
(2) If the charge referred to in subsection (1)(b)(ii) is not paid
within 30 days from the time it becomes payable, a sum equal to
RSA 2000
10% of the charge remaining unpaid becomes a penalty that forms
a part of the charge and is recoverable with the charge.
(2.1) Repealed 2022 c11 s2.
(3) Despite section 18, a person may enter into or renew a contract
of insurance to insure a risk in Alberta with an unlicensed insurer if
the requirements of subsection (1)(a) and (b) have been met.
(4) This section does not apply to a contract of insurance that may
be evidenced by a motor vehicle liability policy.
RSA 2000 cI-3 s61;2005 c27 s19;2008 c19 s13;
2022 c11 s2