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Insurance Insiders Warn Provincial Cap on Liability Rates Has Increased Number of Uninsured Drivers

Submitted by Makenzie on Thu, 11/22/2018 - 16:08

Alberta’s introduction of a cap on the cost of liability-only vehicle insurance has insurance companies mitigating their financial risk by increasing other rates and pricing some drivers out of coverage.

“The government meant well,” explained Lance Miller, CEO of Surex Insurance. “They’re trying to protect Albertans from high increasing costs in insurance. The problem was the stance they took has created an environment that is endangering Albertans.”