Please note: The AIRB hosted
a series of consultation meetings on November 8-10,
2006 to discuss an acceptable cost of capital and
profit margin for auto insurers - go to transcripts,
written submissions and presentations from the meetings.
The Auto Insurance Rate Board annually sets the maximum
premiums for basic coverage that all insurers can
charge. The process to set the premiums includes a
public hearing.
The AIRB’s mandate is to regulate premium
level for basic coverage, third party liability limits
of $200,000 to $2,000,000 and accident benefits, and
monitor additional coverage.
The board also monitors and reports on rates for
optional premiums, such as for collision, glass and
other coverage. This coverage is not regulated, though
insurers are required to file their rates with the
board prior to implementing changes.
The AIRB has a consumer representative, whose role
is to bring consumer issues to the table. The consumer
representative can be contacted by e-mail at airb@gov.ab.ca.
Consumers who have questions about how the new auto
insurance system operates should contact their broker,
or call the Office of the Superintendent of Insurance
at (780) 427-8322. To call us toll free within Alberta
dial 310-0000 then 780-427-8322.
Consumers may also use the grid
rate calculator to help determine their
premium. However, because the premium grid sets the
maximum chargeable premium for basic coverage, most
drivers (approximately 80%) do not pay these premiums.
If you have concerns about how your insurance premium
for basic coverage has been calculated, or if you
believe your insurer has treated you unfairly under
the Insurance
Act or Automobile
Insurance Premiums Regulation, see the information
on the dispute
resolution process.
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