Overview
Basic auto insurance (accident benefits and third-party liability) is mandated in Alberta. The law does not require additional insurance coverage (such as collision and comprehensive).
Alberta has set a maximum amount that can be charged for basic coverage in order to ensure that it is affordable and accessible. The Automobile Insurance Rate Board (AIRB) regulates automobile insurance rates in Alberta, though there is no maximum amount for additional coverage because it is not required by law. All rating programs for insurers selling basic and additional coverage to Albertans must be approved by the AIRB. The Alberta Insurance Rating Bureau (AIRB) has the legal authority to approve, reject, or require changes to premium rating program filings by Alberta automobile insurance companies. Please see below for more information.
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Automobile Insurance Rating Factors Framework
The Superintendent of Insurance uses the Vehicle Insurance Rating Criteria Framework to help him decide which automobile insurance rating factors to allow in Alberta. It also aims to increase transparency and openness in the decision-making process for both insurers and Albertans.
About endorsements
Endorsements (also known as riders) change the scope of an existing insurance contract by adding, deleting, excluding, or otherwise changing it. In Alberta, there are two types of motor policy endorsement forms:
Standard Endorsement Forms (SEF) that have been approved for use by the Superintendent of Insurance; and Conditionally Approved Endorsements (CAE) are non-standard endorsement forms that have been approved by the Superintendent of Insurance for use by a specific insurance company wishing to address specific client needs.
Section 551 of the Insurance Act says "No insurer may use a form of application, policy, endorsement, renewal, or continuation certificate in connection with car insurance other than a form approved by the Superintendent of Insurance."
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About Conditionally Approved Endorsements (CAEs)
Individual insurers have acquired authorization to utilize CAEs that are not included in the following endorsement list. Bulletin 03-2015 (PDF, 76 KB) explains what information the Superintendent of Insurance needs from an insurer before approving a CAE. CAEs can be obtained directly from insurance companies. Please contact us if you want to know if a non-standard CAE has been approved for use by the Superintendent of Insurance.
Alberta's Standard Endorsement Forms (SEFs) have been approved for use.
Any insurance firm permitted to underwrite the class of motor insurance in Alberta may use these endorsements. The use of non-approved motor insurance endorsements is a violation of the Insurance Act that can result in prosecution or a fine.
Complaints
For information on claim or policy complaints, including the Dispute Resolution Process, insurance behavior complaints, and insurance industry information, go to Insurance consumer complaints.