Superintendent of Insurance – Adoption of CCIR/CISRO Incentive Management Guidance

This Interpretation Bulletin from the Superintendent of Insurance is intended to inform insurers and insurance intermediaries that they need to develop incentive arrangements that align with Fair Treatment of Customers (FTC). Insurers and intermediaries are expected to put in place policies, procedures, and controls to meet their obligations and avoid or properly manage conflict of interest risks in their incentive arrangements.

As Alberta’s insurance market regulators, the Superintendent and the AIC consider the fair treatment of customers fundamental to sound market conduct practices and expect insurers and their intermediaries to apply the principles set out in the IM Guidance in their development and implementation of performance management programs and incentive arrangements related to the sale and servicing of insurance products.

Read the interpretation bulletin