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2023 Semi-Annual Review Consultations Started

(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].

Important Dates
  1. January 27, 2023 – The AIRB posts the Preliminary Review of Industry Experience on the 2023 Semi-Annual Review webpage.
  2. February 21, 2023 – Deadline for written submissions.
  3. 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.

AIRB Launches the Rating Profile Module in CARS

(January 4, 2023) The Automobile Insurance Rate Board (AIRB) launched the the Rating Profile Submissions Module in the Collection and Reporting System (CARS), increasing insurer accountability and enabling the direct entry of premiums for each rating profile, as required based on filing type. The security of the filing process is enhanced with CARS replacing email as the method of submitting premiums for rating profiles.

Rating profiles are used in the AIRB’s Rate Comparison Tool, a valued resource for Alberta drivers seeking to shop the market for auto insurance. Albertans can see premiums for ten profiles for private passenger vehicle, and profiles for commercial and miscellaneous vehicles all profiles are shown on a number of different postal codes across the province.
Refer to Notice 01-2023 for more information.

AIRB Launches the Collection and Reporting System

(July 11, 2022) The Automobile Insurance Rate Board (AIRB) launched the new web-based Collection and Reporting System (CARS), intending to improve efficiency, transparency, accountability, and security by having all aspects of filings on one platform for auto insurance companies.

CARS will enhance efficiency because:

  • AIRB staff and insurance companies will not duplicate efforts when submitting and processing automobile insurance rate filings or paying cost recoveries.
  • All aspects of filings will now be on one online platform.
  • The process for collecting and reporting automobile rating program filing information will be more automated.
  • Insurance companies will be able to pay for cost recovery invoices online, should they choose, reducing paperwork.

With the new CARS website, insurance companies will see better transparency and accountability of their filings as they can track and see the present status of their submission.

The security of the filing process will be enhanced as all users of the CARS website will be required to register and sign in using the MyAlberta Digital ID for Business, replacing email as the method of submitting filing materials.

To ensure a smooth transition to this new platform, all insurance companies must submit the CARS Contact Submission Form to ensure all required staff can obtain access to CARS. Once the AIRB has received your contact submission, users can request a MyAlberta Digital ID, and access the CARS website.

Find CARS resources below, such as Notice 05-2022,  the CARS Contact Submission Form, and a link to the CARS website.

AIRB Updates Filing Guidelines

(June 29, 2022) The Automobile Insurance Rate Board (AIRB) advises all automobile insurance companies operating in Alberta of amendments to the filing guidelines for private passenger and other than private passenger vehicles.

We have rescinded the Full and Simplified Filing Guidelines and the File and Use Filing Guidelines, effective October 1, 2021, and replaced them with new Consolidated Filing Guidelines, effective July 1, 2022.

Details of these changes can be found in Bulletin 03-2022.

The following documents have been updated due to these amendments:

The AIRB regularly reviews its filing guidelines to provide the most current information to insurance companies in preparing their filings to change or adopt a rating program.

AIRB Completes 2022 Semi-Annual Review

(March 25, 2022) The Automobile Insurance Rate Board (AIRB) has completed the 2022 Semi-Annual Review and approved the 2022 Semi-Annual Review private passenger vehicle (PPV) Industry Benchmarks Schedule.

The AIRB uses Industry Benchmarks as the basis of the review of PPV filings submitted on or after April 1, 2022. All PPV filings received on or after April 1, 2022, should incorporate the most current Industry Benchmarks to the extent their own data is not fully credible.

Find the 2022 Semi-Annual Review document and Industry Benchmark schedule below.

2022 Semi-Annual Review Consultations Started

(January 28, 2022) The Automobile Insurance Rate Board (AIRB) has starred consultation on its 2022 Semi-Annual Review for private passenger vehicles (PPV). This review analyzes industry loss experience as of June 2021 for PPV to establish Industry Benchmarks used when reviewing insurance companies’ rate filings for basic and additional coverage effective April 1, 2022.

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 2022 Semi-Annual Review webpage, and those wishing to comment on the report may send written submissions by email to [email protected].

Important Dates
  1. January 28, 2022 – The AIRB posts the Preliminary Review of Industry Experience on the 2022 Semi-Annual Review webpage.
  2. February 18, 2022 – Deadline for written submissions.
  3. April 1, 2022 – The AIRB’s final Review of Industry Experience and rate filing benchmarks are posted on the 2022 Semi-Annual Review webpage.

For more information on the 2022 Semi-Annual Review, read Notice 01-2022 below.