Source: Government of Canada regional news
Auto insurance rates have been increasing across Canada, with repair costs, parts shortages, vehicle theft, and higher personal injury and legal costs all contributing.
Albertans need a simpler, more affordable and stable insurance system that protects them and their families on the road. The government is launching an online public engagement survey to collect feedback from Albertans on what they value and need from their auto insurance.
“We have been working hard to come up with a long-term solution to the complex issue of rising costs of auto insurance. As we weigh our options to improve the system, we need to hear from Albertans with their thoughts and experiences. Their feedback will help us choose the right path to keep auto insurance affordable and sustainable.”
“Affordability is top of mind for Albertans. We need to ensure we are doing everything we can to help them save money, and that’s why we’re going to engage with them on the best options to lower auto insurance rates.”
Alberta’s government asked independent experts to look at systems that could reduce the costs of auto insurance and improve the sustainability and stability of the insurance industry.
Oliver Wyman focused its work on comparing average premiums under different existing auto insurance systems, largely across Canada. The Nous Group examined the broader costs and benefits of these different auto insurance models. No decisions have been made on the changes that will be made to Alberta’s auto insurance system. These reports will be used to inform future engagements and policies.
“We know without reforms to address the rising cost of accident claims, auto insurance premiums will continue to increase. We encourage all Alberta drivers to participate in the online public engagement survey to share their views on what they value and expect from their auto insurance.”
Albertans can read the Oliver Wyman and Nous Group reports online, as well as brief summaries that provide background and context for the survey.
Quick facts
- The survey will be open until Wednesday, June 26, 2024.
Related information
- Automobile insurance reform
- Report: Auto Insurance Changes in Alberta (includes the Oliver Wyman and Nous Group studies)
- Auto insurance engagement
Related news
- Good drivers to benefit from auto insurance changes (Nov. 1, 2023)
