Friday, October 7, 2022

Alberta government looking at retooling auto insurance system

Alberta’s UCP government is appointing an advisory committee to look at reforming the province’s automobile insurance system.

Finance Minister Travis Toews says Albertans pay among the highest rates in the country for auto insurance.  He says this government chose not to extend the rate cap under the NDP, because it actually made the problem worse, noting many people have had trouble accessing key insurance components such as collision and comprehensive coverage and payment plans.

“We know the automobile insurance industry in our province is no longer meeting Albertans’ needs. We pay some of the highest automobile insurance rates in the country. Our government is committed to addressing this problem and making necessary changes to automobile insurance. I look forward to the committee’s report and findings.”, says Toews.

The three-person committee includes a consumer representative as well as legal and medical experts. The committee will provide recommendations to government about how to stabilize and reduce the cost of auto insurance, while ensuring injured Albertans are protected with appropriate treatment and compensation in recovery.

Toews says the committee will report back to government in the spring with recommendations.

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