What does the rate pause mean for industry?

Today the Government of Alberta ordered the Automobile Insurance Rate Board (AIRB) to pause new rate approvals that increase private passenger auto insurance premiums for Albertans. This pause is in place until December 31, 2023. Click here to read the news release. Please note the Superintendent of Insurance issued two related bulletins: Interpretation Bulletin 01-2023: […]

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What does the auto insurance rate pause mean for Albertans?

The Government of Alberta ordered the Automobile Insurance Rate Board (AIRB) to pause new rate approvals that increase auto insurance premiums for Albertans. This order is in place until December 31, 2023. The announced rate pause means that going forward insurers cannot apply for new increases to Albertans’ auto insurance premiums until 2024. You may […]

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Fact Check: Does Alberta have the highest auto insurance rates in Canada?

Recent media reports of an Ernst and Young report commissioned by ICBC claim that Albertans pay the highest auto insurance rates in Canada. No, Albertans do not pay the highest rates in Canada, according to data from the General Insurance Statistical Agency. The Alberta Auto Insurance Rate Board (AIRB) has identified a number of issues […]

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Updates to Industry Benchmarks and Grid Rating Program, Releases 2022 Annual Review Report and 2022 Market and Trends Report

(September 30, 2022) The AIRB is announcing the following: Updates to the industry benchmarks for private passenger and commercial vehicles, taking effect October 1, 2022; Updates to the Grid Rating Program (Grid) rate change decision, taking effect January 1, 2023; Publishing the 2022 Annual Review Report; and Publishing the 2022 Market and Trends Report.   […]

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2023 AIRB Board Meeting Schedule

(August 17, 2022) Today the Automobile Insurance Rate Board (AIRB) released the Board of Directors‘ 2023 meeting schedule. The AIRB Board of Directors brings a broad range of expertise and experience to help guide operations. Board members were recruited from across the province and selected through a public, open competition. The AIRB Board of Directors […]

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