Jul 13, 2016 | News
Accredited for Life/A&S, General or Adjuster CE in Alberta.
This course is included as part of your ILS CE Course Subscription and is available now.
In this four part course you will be guided through the regulatory responsibilities expected of an Insurance professional in the province of Alberta. This course looks specifically at the Insurance Council of Alberta, it’s subordinate councils and the rules and regulations that guide them.
Other topics covered include:
Appeals
Provisions and Elections
Code of Conduct
Alberta – an Insurance Professional’s Regulatory Responsibilities online course is available as part of your ILS General CE Course Subscription, Adjuster CE Course Subscription or Life/A&S CE Course Subscription.
Detailed Course Lesson Plan:
Lesson 1 – Insurance Councils
1. Interpretation
2. Composition of Alberta Insurance Council
3. Composition of Life Insurance Council
4. Composition of General Insurance Council
5. Composition of Adjuster Council
6. Chairs of Council
7. Becoming Ineligible
8. Term
9. Delegation
10. Delegation of Alberta Insurance Council
11. Life, General and Adjuster Councils
12. Inspection of Records
Lesson 2 – Appeals
13. Appeal Board
14. Becoming ineligible
15. Term
16. Notice of appeal
17. Panels
18. Remuneration, fees and expenses
19. Hearing and notice of hearing
20. Evidence – councils decision
21. Written Submissions
22. Procedural fairness
23. Panel orders
24. Disposition of appeal fee
25. Requirements for order
26. Appeal to court
27. Evidence
28. Court orders
Lesson 3 – General Provisions and Elections
29. Eligibility for candidates
30. Nominations
31. Voter eligibility – council elections
32. Voter eligibility – appeal board elections
33. Election process
34. Alternate elected members
35. Repealed AR 104/2006 s13
36. Repeal
37. Expiry
38. Coming into force
Lesson 4 – Code of Conduct Principles
1. Trustworthiness
2. Good Faith
3. Competence
4. Financial Integrity
5. Dealing with Clients
6. Dealing with Insurers
7. Dealing with Agents
8. Dealing with Agents
9. Conduct Specific to Agents acting as insurance adjusters
10.Dealing with the Alberta insurance council
11.Compliance with governing legislation and the code
View the AB Council Codes of Conduct
Jul 8, 2016 | News
At ILScorp we are committed to providing you with the best customer experience – and that begins with keeping you informed.
Canada Post is currently in negotiations with its union, which may result in a nationwide labour disruption in the next few days. This may impact payments sent to ILScorp via mail.
Below is some important information that will help you stay informed of your group member charges and avoid late payment fees:
You can pay your ILS Group Member invoice, and all other invoices via credit card, by calling the ILScorp offices @ 1.800.404.2211 and speaking directly with one of our friendly customer service representatives.
You can also pay your ILS Group Member, and all other invoices via cheque sent through ICS Courier or an alternate courier of your choice.
It’s important to note that you remain responsible for paying your bills on time even during the labour disruption. Thank you for using this information to avoid possible late payment charges.
In turn, ILScorp has been, and will continue to ship all ILS Textbooks through ICS Courier, to ensure our students receive their study material.
ILScorp
Jul 7, 2016 | News
ALBERTA STANDARD AUTOMOBILE FORM – TRANSPORTATION NETWORK SPF No 9
The Alberta Auto Essentials Course has just been added to all ILS General and Adjuster CE Course Subscribers. This brand new course is accredited for 4 CE credits in Alberta and takes you step by step through the major policy forms and applications for automobile insurance in the province of Alberta. The Alberta Auto essentials course includes the new form – SPF 9 – Transportation Network, which became effective July 1, 2016.
What exactly is the new SPF 9 form – Transportation Network all about?
Here are some SPF 9 policy definitions taken from the Alberta Auto Essentials Course
DEFINITIONS
(a) “transportation network” means any online enabled application, digital platform, software, website, or any other system offered, used or operated by a transportation network company and that is used by persons to prearrange the transportation of passenger(s) for compensation in a transportation network automobile.
(b) “transportation network automobile” means an automobile used to provide prearranged transportation of passenger(s) for compensation through the use of a transportation network.
(c) “transportation network company” means a corporation, partnership, sole proprietorship, association or other entity or individual that connects passenger(s) with transportation network drivers for prearranged transportation exclusively through the offering, use or operation of a transportation network.
(d) “transportation network driver” means a person authorized by a transportation network company to use a transportation network automobile to provide prearranged transportation of passenger(s) for compensation through the use of a transportation network.
(e) “transportation network automobile owner” means the owner of a transportation network automobile, or if the transportation network automobile is leased, the lessee and lessor of the transportation network automobile.
More Info on Alberta Auto Essentials Course
Jul 6, 2016 | News
ILScorp launches new Alberta Auto Essentials course to include the Alberta Standard Automobile Insurance Policy Form – TRANSPORTATION NETWORK SPF No 9.
Effective July 1, 2016.
The Alberta Auto Essentials Course has just been added to all ILS General and Adjuster CE Course Subscribers. This brand new course is accredited for 4 CE credits in Alberta and takes you step by step through the major policy forms and applications for automobile insurance in the province of Alberta.
With the new SPF 9 Policy form – Transportation network company means a corporation, partnership, sole proprietorship, association or other entity or individual that connects passenger(s) with transportation network drivers for prearranged transportation exclusively through the offering, use or operation of a transportation network.
SPF 9 is a purpose built form for very specialized coverage. Under the terms of the coverage there are 4 “USE PERIOD OF VEHICLE”.
These periods will determine the insurance policy in effect and claims reporting.
SPF 9 – Transportation Network Company Use Period Chart
This is just a brief introduction to the newest Alberta Standard Automobile Form – SPF 9 – Transportation Network, to learn more take the new Alberta Auto Essentials Course now as part of your ILScorp CE Subscription.
Topics covered in the course include:
- SPF 1 – Standard Automobile Policy
- SPF 4 – Garage Policy
- SPF 6 – Non Owned Vehicle
- SPF 9 – the newest form – Transportation Network
Applicable endorsements and application forms are also covered.
Jul 4, 2016 | News
Scheduled Coverage
Refers to policy on which coverage is provided only on that property which is specifically identified or scheduled
Property of Every Description
Refers to policy used to insure building, stock and equipment under a single limit of insurance
All Property (Blanket)
A policy under which all property owned by the insured is covered or “blanketed” by a single limit of insurance
Tenants Improvements
Building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are not otherwise insured, providing the insured is not the actual owner of the building
Actual Cash Value
The replacement or repair costs less depreciation
Replacement Value
Represents the costs to repair, replace or rebuild the lost or damaged property without deduction for depreciation
Reinsurance
Involves an insurer ceding part of the risk it has assumed to one or more other insurers
Subscription
An insurance policy under which a group of insurers has agreed to participate in providing policy insurance coverages
Condition
Something imposed by the insurer which requires the insured to do or not do to something
Subrogation
Refers to the right of the insurer to “step into the shoes” of the party whom it has compensated and sue any party whom the compensated party could have sued
Warranty
A promise that certain facts are as they are represented to be and that they will remain so
Material Fact
Facts which if communicated to the insurer would induce it either to decline the insurance altogether, or not accept it unless a higher premium is paid
Fraudulent
To act willfully, and with the specific intent to deceive or cheat
Void Contract
One which has no “legal or binding force” and as such, “is incapable of being enforced by law
Fire Resistive
Buildings which have met minimum standards in terms of hours it will withstand a specific, carefully controlled test fire
Non Combustible
All structural members, including floors, roofs, and their supports are constructed of steel, iron, concrete or other noncombustible materials. Falls just short of fire resistive
Common Hazards
Conditions common to all buildings which influence their potential for loss
Detachment
Refers to the proximity of the building insured or containing the property insured to other commercially rated buildings
Adverse Selection
Occurs when the applicants for insurance are largely those most likely to suffer a loss
Risk Classification
Refers to the grouping or classifying of risks according to established criteria which, in large part, is based on their probability for loss as a class
Soft Market
Characterized by intense competition between insurers resulting in low rates and broader coverages
Hard Market
Occurs when low profit margins force out some of the competition resulting in a more disciplined underwriting approach where insureds receive little or nothing in rate discounts
Hazard
A condition which may cause a peril to occur
Physical Hazard
Conditions relating to the use of tangible property which could cause a peril to occur
Moral Hazard
Subjective characteristics of the applicant that could cause a peril to occur
Accommodation Business
Business which is marginal or substandard but which the insurer agrees to accept as a favor or accommodation to the broker
Supporting Business
Existence of other insurance policies the applicant has with the same insurer
Vacant
Empty, or when the normal occupant is absent and the contents have been removed
Unoccupied
Lack of habitual presence of human beings, or then premises are complete with its contents, except that such person who normally occupies the premises is temporarily away
Loading
An additional rate charged over and above the fire rate
Centrifugal Force
The inertia of a body that tends to move it away from the center around which it revolves
Mechanical Breakdown
A failure in the working mechanism of the machinery…a functional defect in the moving parts of the equipment which causes the latter to cease function or to function improperly
Electrical Breakdown
Failure in the electrical mechanism of the machinery, appliance or device
Trade Losses
Types of losses which might be expected as a part of the every day operation of a business
Wear and Tear
Deterioration or depreciation in value by ordinary and reasonable use of the subject matter
Gradual Deterioration
Deterioration of an object which arises naturally over time
Latent Defect
Hidden or concealed defect. One which could not be discovered by reasonable and customary inspection. A defect not apparent on the face of the goods
Inherent Vice
Something within a commodity, or other kind of property, that causes its demise over time
Mysterious Disappearance
Disappearance under circumstances which cannot be explained
Endorsement
Changes the terms or conditions of the policy
Jul 2, 2016 | News
We advise our brokerages that ILScorp is on the ICS Courier route. ICS is Canada’s Business-to-Business Courier, more information can be found here.
All business payments can be forwarded via ICS or can be made by calling ILScorp and paying via credit card at 1.800.404.2211.
