Industry Code: 73501
This industry includes insurance carriers, underwriters, agents, and brokers providing personal, group, and business insurance services.
Operation Details:
Sales, underwriting, and claims adjusting are common activities of businesses in this industry. Insurance companies and agencies provide bonding and a host of financial planning and investment services, and/or engage in real estate sales as well.
Insurance adjusters in Alberta must have a license to operate from the Superintendent of Insurance. Adjusters that are employees of an insurance company do not require this license.
These operations involve the adjusting of claims for insurance companies. No appraisals are done. Any type of claims an insurance company has can be handled by these employers. Examples would be automobile, contract violation, or medical malpractice claims.
These companies do a full investigation:
1. Check to see if the claimant is covered for the loss in question.
2. Hire an appraisal service to get an appraisal report.
3. Make a full report of the situation.
4. Negotiate with the insurance company in question, for the claimant.
5. Obtain the settlement from the insurance company and issue it to the claimant.
These companies are usually paid on a per claim basis.
General appraising services provide an independent valuation of real estate, automobiles, jewelry, and other property for financing or insurance purposes.
Underwriting Considerations:
With the trend to privatization of government services, municipal governments have begun to contract out services of tax assessment. Tax assessors are classified in this industry.
In smaller rural centres, insurance agents will provide motor vehicle licensing and Alberta Registry services. These activities are considered incidental to an insurance business and an additional classification is not required.
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2012. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Premium Rate History:
Activities:
Appraising Services, General
Appraising, Property Tax
Bonding Companies
Insurance Adjusters
Insurance Companies and Agencies
Tax Assessors
Property Tax, Appraisers
Rate Group History:
This rate group was established in 1995 to consolidate a number of business and professional services.
This industry includes insurance carriers, underwriters, agents, and brokers providing personal, group, and business insurance services.
Premium Rate History:
Activities:
Appraising Services, General
Appraising, Property Tax
Bonding Companies
Insurance Adjusters
Insurance Companies and Agencies
Tax Assessors
Property Tax, Appraisers
Operation Details:
Sales, underwriting, and claims adjusting are common activities of businesses in this industry. Insurance companies and agencies provide bonding and a host of financial planning and investment services, and/or engage in real estate sales as well.
Insurance adjusters in Alberta must have a license to operate from the Superintendent of Insurance. Adjusters that are employees of an insurance company do not require this license.
These operations involve the adjusting of claims for insurance companies. No appraisals are done. Any type of claims an insurance company has can be handled by these employers. Examples would be automobile, contract violation, or medical malpractice claims.
These companies do a full investigation:
1. Check to see if the claimant is covered for the loss in question.
2. Hire an appraisal service to get an appraisal report.
3. Make a full report of the situation.
4. Negotiate with the insurance company in question, for the claimant.
5. Obtain the settlement from the insurance company and issue it to the claimant.
These companies are usually paid on a per claim basis.
General appraising services provide an independent valuation of real estate, automobiles, jewelry, and other property for financing or insurance purposes.
Underwriting Considerations:
With the trend to privatization of government services, municipal governments have begun to contract out services of tax assessment. Tax assessors are classified in this industry.
In smaller rural centres, insurance agents will provide motor vehicle licensing and Alberta Registry services. These activities are considered incidental to an insurance business and an additional classification is not required.
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2012. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Rate Group History:
This rate group was established in 1995 to consolidate a number of business and professional services.