Alberta’s rate cap is deepening financial losses in the province's auto insurance market, industry experts say, as a new ...
Under Alberta’s Insurance Act, products that meet the definition of “insurance” must be underwritten by a licenced insurer and may only be sold by a licenced agent (which includes a business, such as ...
Alberta's auto insurers lost more than $1 billion in the province in 2024, as IBC points to the impact of the province's ongoing rate cap.
On December 19, 2024, the Alberta Superintendent of Insurance published a revised version of Bulletin 05-2024 (“Superintendent’s Bulletin”) on the treatment of motor vehicle warranty contracts, ...
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Auto Insurers Paid Out 18% More Than Collected, Losing $1.2B in 2024, according to government report
CNW/ - A newly released government report shows that Alberta's rate cap is deepening the financial crisis in Alberta's auto insurance market. In its ...
According to the Superintendent’s 2024 annual report, property and casualty insurers selling auto in Alberta paid out roughly 18% more in claims and expenses than they collected in premiums, for a ...
Insurance companies want a cap on how much they can increase premiums in Alberta, which could see a $400 increase per year. It is a 7.5 percent increase in 2026. Surprise, surprise. Not. The insurance ...
Another auto insurer revealed plans to exit the Alberta market this week, with CUMIS General Insurance announcing its coming departure in 2026. CUMIS, which is a subsidiary of Co-operators General ...
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Alberta’s auto insurance cap is squeezing insurers — and more drivers are feeling it, too
Growing strain in the province’s insurance market is raising fresh questions about what drivers could face next ...
The Insurance Bureau of Canada says recently released Alberta government figures show rate caps are "deepening the financial crisis" for auto insurers in the province.
The Alberta Civil Trial Lawyers Association (ACTLA) sent out a release objecting to the proposed care-first auto insurance or ...
Cumis General Insurance announced on Tuesday it plans to exit Alberta's automobile insurance market. (David Bell/CBC - image credit) Another auto insurer revealed plans to exit the Alberta market this ...
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