(March 8, 2022) The Automobile Insurance Rate Board (AIRB) released its 2021 Annual Report, reflecting the activities, results and performance of the AIRB for the year ended December 31, 2021.
Some of the AIRB’s successes from 2021 were:
- Implementing principles based guidance for usage based insurance, rating variables and rating territories;
- Simplifying of our filing guidelines streamlining to a single guideline for both full and simplified filings, thereby reducing red tape; and
- Implementing file and use filing guidelines for CLEAR, DCPD, and miscellaneous vehicles.
The AIRB is excited for 2022 and will be seeking:
- Further opportunities to reduce red tape for insurance companies while ensuring consumer protection;
- To build on our consumer education; and
- To work with insurance companies to opportunities to introduce innovation in our marketplace, such as pay per km or usage based insurance.
The AIRB is committed to ensuring automobile insurance is accessible, equitable and sustainable for all Albertans.
Find the full 2021 Annual Report below. Find past Annual Reports on our Infographics and Reports page.