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ARTICLE · 10 JANUARY 2025

Steer Clear Of Non-Compliance: Alberta's New Restricted Insurance Licence For Dealership Programs

Borden Ladner Gervais LLP
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On Dec. 19, 2024, the Office of the Alberta Superintendent of Insurance published a revised version of Interpretation Bulletin No. 05-2024...

CanadaInsurance
Rick Da Costa
Rick Da Costa
Erin VanderVeer
Erin VanderVeer
Hannah Ross
Hannah Ross
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On Dec. 19, 2024, the Office of the Alberta Superintendent of Insurance published a revised version of Interpretation Bulletin No. 05-2024 (the Superintendent's Revised Bulletin) setting out the Superintendent's position with respect to products commonly marketed by automobile dealerships in conjunction with the sale of motor vehicles. The original Bulletin published by the Superintendent has not substantively changed, and was previously summarized in an article by BLG found here.

The Superintendent's Revised Bulletin has been released in conjunction with the Alberta Insurance Council's Information Bulletin IB-2024-01 (the AIC Bulletin). Among other things, the AIC Bulletin announces a new Restricted Certificate of Authority (i.e. a Restricted Insurance Licence) for "dealership loyalty programs and vehicle protection products". This announcement aligns with the trend of Western provinces to expand these types of insurance intermediary licences for auto and equipment

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