Albertans prefer current car insurance system over potential no-fault structure: Survey

The Insurance Broker’s Association of Alberta (IBAA) is lobbying to replace Alberta’s current insurance regime with a “no-fault system”, where compensation for bodily injury claims, would be handled by insurance companies. Simpler put, people injured by a negligent driver in an automobile accident, would lose their right to sue. Instead, the insurance companies responsible for …

Insurance companies in Alberta set to rake in almost $1 Billion in pre-tax profit over 2019 and 2020

Recently, Alberta insurance companies have lamented the fact that personal injury claims, made by drivers injured in automobile accidents, have depleted their financial reserves. They claim that bankruptcy is on the horizon, absent significant changes. To that end, they are aggressively lobbying for a “no-fault insurance system”, which would essentially give insurance companies “carte blanche” …