Alberta Finance has released the Superintendent of Insurance’s annual report for 2005.

It reveals that, in 2005, the total insurance premiums paid to insurers was $8,146,918,000, up from $7,732,874,000 in 2004. In 2005, the Alberta Insurance Council issued 28,779 certificates, including 24,893 Certificates of Authority to insurance agents and adjusters and 3,886 Corporate Certificates of Authority.

A total of 680 complaint files were opened and a total of 45 disciplinary actions were taken during the year. Decisions of the Insurance Councils are appealable to the Insurance Council’s appeal board, and a total of six appeals were heard. Of these appeals, three appeals were dismissed, two were varied, and one appeal was abandoned.

Also, in 2005, the Superintendent of Insurance issued 21 administrative penalties. The total amount of administrative penalties levied and collected was $39,000 from various insurance companies.