Tag: Semi-Annual Review

(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.

(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.

(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.