Alberta eyes auto insurance overhaul; no-fault model likely
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Alberta’s government is poised to overhaul the province’s auto insurance system, with a no-fault model emerging as the most likely, offered to counter rising premiums.
Alberta’s government is poised to overhaul the province’s auto insurance system, with a no-fault model emerging as the most likely, offered to counter rising premiums.
Finance Minister Nate Horner expressed concerns about the current system, saying it is not working for either consumers or insurers right now.
“The system is in peril right now. Changes will have to be made,” Horner said.
Horner confirms changes to Alberta’s insurance system will be announced Thursday.
A no-fault system would shift the focus from assigning blame to providing compensation for injuries and property damage, regardless of who caused the accident.
Proponents like Jonathan Brown, former president of the Insurance Brokers Association of Alberta, argue this would streamline claims and potentially lower costs.
“Everyone can access care and benefit at the same level, regardless of who's at fault in the accident,” said Brown.
