(January 27, 2023) The Automobile Insurance Rate Board (AIRB) has starred consultation on its 2023 Semi-Annual Review for private passenger vehicles (PPV). This review analyzes industry loss experience as of June 2022 for PPV to establish Industry Benchmarks used when reviewing insurance companies’ rate filings for basic and additional coverage effective April 1, 2023.
As part of the Semi-Annual Review process, the AIRB invites stakeholders to review the AIRB consulting actuary’s Preliminary Review of Industry Experience posted on the 2023 Semi-Annual Review webpage, and those wishing to comment on the report may send written submissions by email to [email protected].
- January 27, 2023 – The AIRB posts the Preliminary Review of Industry Experience on the 2023 Semi-Annual Review webpage.
- February 21, 2023 – Deadline for written submissions.
- April 1, 2023 – The AIRB’s final Review of Industry Experience and rate filing benchmarks are posted on the 2023 Semi-Annual Review webpage.
For more information on the 2023 Semi-Annual Review, read Notice 02-2023.