2023 Semi-Annual Review Consultations Started
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 in the Reports and Resources section, and those wishing to comment on the report may send written submissions by email to airb@gov.ab.ca.
Important Dates
- January 27, 2023 – The AIRB posts the Preliminary Review of Industry Experience.
- February 21, 2023 – Deadline for written submissions.
- April 1, 2023 – The AIRB’s final Review of Industry Experience and rate filing benchmarks are posted.
Resources
Semi-Annual Review 2023
The AIRB has completed its 2021 Semi-annual Review process to analyze industry loss experience for PPV to establish industry benchmarks to assess insurance companies’ PPV rate filings for basic and additional coverage.
Download AllAnnual Review 2023
The AIRB has started its 2023 Annual Review process to analyze industry loss experience for PPV to establish industry benchmarks to assess insurance companies’ PPV rate filings for basic and additional coverage. The AIRB is consulting with interested stakeholders as part of its Annual Review. The Open Meeting was held through a webinar on August 17, 2023.
- Annual Review Report PPV 2023.pdf
- Appendix A Oliver Wyman Annual Review Final Report PPV 2023.pdf
- Appendix B Industry Benchmark Schedule PPV 2023.pdf
- Appendix C Consumer Perspectives Report 2023.pdf
- YouTube Video (opens in new tab)
- Oliver Wyman Annual Review Final Report COM 2023.pdf
- Industry Benchmark Schedule COM 2023.pdf
02-2023 Notice: 2023 Semi-annual Review of Industry Experience – PPV
This review analyzes industry loss experience, for private passenger vehicles to establish Industry Benchmarks used in the review of insurers’ rate filings.