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Car Insurance

NDP’s Cap on Premium Increases Leaves Auto Insurers in ‘Crisis’: Industry

Submitted by Makenzie on Tue, 08/14/2018 - 16:01

The insurance industry says some Albertans could end up without car insurance and some companies may pull out of the province because of the NDP government’s cap on premium increases.

But the province says it’s working to protect consumers while also ensuring a healthy insurance industry.

Last December, Finance Minister Joe Ceci issued an order limiting cumulative auto rate hikes to five per cent, citing concerns over the effect of hefty rate increases on Albertans, with the policy set to be in place until the end of November.