The AIRB has a robust governance framework reflecting the roles, relationships, delegated authority, and accountability between the Government of Alberta, the Board, and management.
The Alberta Automobile Insurance Rate Board (AIRB) was established through the Insurance Act in October 2004 as an independent, quasi-judicial regulator. The AIRB is responsible for regulating automobile insurance premiums in Alberta. The AIRB serves all Albertans – the public, industry and Government – through its functions and statutory duties and responsibilities.
AIRB decisions are made independently of Government and pursuant to the AIRB’s enabling legislation.
The AIRB is governed by a Board of Directors consisting of seven members appointed by the Lieutenant Governor in Council, a consumer representative appointed by the Minister, and the Superintendent of Insurance who is a non-voting member of the Board. The AIRB’s board members bring a broad range of expertise and experience.
The Board meets monthly to discuss administrative issues and exercise its mandate. It also holds a public annual review meeting to hear from stakeholders on the state of the industry.
The Board approves the vision, mission, values, strategic priorities, and goals that guide the AIRB. The Board sets goals for performance as part of the business planning process and these goals are the basis for evaluating performance and accountability.
The Board’s governance processes and guidelines outlining how they carry out their duties align with the Government’s Public Agencies Governance Policy.
The Code of Conduct and Ethics (Code) applies to all Board Members and employees. The Code reflects a commitment to the AIRB’s values and provides a framework to guide ethical conduct. Board Members and employees are expected to behave in a way that supports this Code.
As an independent agency established by the Minister of Finance to regulate automobile insurance premiums in Alberta, the AIRB has an obligation to Albertans that there not be, nor seem to be, any conflict between the private interest of Board Members and employees and their duty to the public. At the same time, it is recognized Board Members and employees should enjoy the same rights in their private dealings as any other citizens unless it can be demonstrated that a restriction is essential to the public interest.
The AIRB adopted the following guiding principles to provide an understanding of the roles, expectations, and responsibilities of each Board member.
Find the legal framework establishing the AIRB to regulate the automobile insurance industry.
This policy establishes the procedures for board meetings, transparency, governance oversight and the appointment, and remuneration and expense reimbursement of Board members.
The AIRB Board Members are remunerated a per diem amount in recognition of their time and effort required to carry out the mandate of the AIRB. In addition, the AIRB recognizes Board Members should not be out-of-pocket for their service and, reimburses members for reasonable expenses incurred to attend meetings, training, and conferences or when acting as a representative of the AIRB.
Find the Public Agency Governance Policy adopted by the Government of Alberta.
Find the AIRB’s Code of Conduct and Ethics.