July 31, 2011 by
Alberta’s department of finance and enterprise has outlined changes to the Alberta Insurance Act that will go into effect on July 1, 2012.
Legislative amendments to the Act include the following:
In addition to the above and other legislative amendments, the government also announced changes to the regulations. Among them, the Fair Practices Amendment Regulation “includes new consumer protection provisions that will require insurance companies, their agents and adjusters to provide full and clear disclosure of dispute resolution processes and limitation periods to clients who have initiated insurance claims,” the province notes on the web site of its finance and enterprise department.
“The regulation includes the permitted exclusions that can be included in property insurance policy wordings to exclude coverage for damages caused by a fire.
“It also includes a provision permitting a person to apply to a court for an order for an advance payment on a personal injury claim being negotiated with an insurance company.”
A full list of legislative amendments and regulatory changes can be found at:
Have your say: