Find My Riding
Subject: Access to Auto insurance in Alberta is in crisis
Dear candidates, I am a broker in [RIDING]. I am writing to you on behalf of the Insurance Brokers Association of Alberta, an industry association that supports 12 000 Albertans who are employed by the property and casualty insurance sector. With over $3.3 billion being contributed by the insurance industry annually to the Alberta economy, we believe the future government must act quickly to resolve the top issues facing the insurance industry: 1. Consumers facing lack of access to affordable auto insurance in Alberta 2. Critical staffing issues – we have jobs, but government policy prevents us from putting Albertans to work What you need to know: Access to Auto insurance in Alberta is in crisis The government’s current 5% cap on premium increases for auto insurance premiums means that insurance carriers are unable to cover increasing claims costs both for physical damage and for escalating injury claims. How this is impacting the Alberta consumer: • Clients are electing not to insure their vehicles- they cannot afford to pay 100% of the premium up front as carriers withdraw payment plans • With companies withdrawing from the auto market and brokers scrambling for alternate markets, the consumer is left with fewer insurance options • Long-term clients are being asked to re-apply to their existing carrier via new applications • Good drivers are subsidizing poor drivers to make up the shortfall in rates Insurance brokers want to put Unemployed Albertans to Work The property/casualty industry is facing a shortage of staff, even though there is no shortage of candidates in Alberta. We have been working with the Alberta Insurance Council and the Finance Minister’s office for years trying to have our credential program, Canadian Accredited Insurance Broker (CAIB), recognized as an equivalency towards licensing in Alberta, as it is in other provinces. We feel this is a quick, easy win for the government. It’s non-controversial, it helps get people licensed faster, which means we can get more Albertans employed in a career with long-term potential. Thank you for your attention. I look forward to making my choice at the polls. Sincerely,
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