[Manic!]

People in Alberta are fckd

Ouch: Driver premiums in Alberta could rise by nearly 88% by 2033

https://dailyhive.com/calgary/albert...river-premiums

A new report by the Insurance Bureau of Canada (IBC) revealed that if Alberta keeps its auto insurance rate cap, driver premiums may skyrocket.

The IBC says the province’s auto insurance rate cap is negatively impacting drivers, who are increasingly facing challenges securing the coverage they need.

In return, many drivers have to purchase new, often more expensive coverage from other carriers.
The MNP report commissioned by the IBC found that:

If the rate cap remains in place and no changes are made to the auto insurance system, claims cost pressures could increase driver premiums by 87.6% between 2023 and 2033.
With the “good driver” rate cap, there will be large differences in growth rates between those who are covered by the cap and those who are not. For “good drivers,” average premiums are projected to increase by 43.8% between 2023 and 2033. Albertans who do not qualify as good drivers will likely see premiums rise by an average of 148.2% over the same period.