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Alberta insurance industry may face overhaul

CALGARY, Alta. -- Alberta's insurance industry may be poised for an overhaul when provincial MLAs debate policy cha...

CALGARY, Alta. — Alberta’s insurance industry may be poised for an overhaul when provincial MLAs debate policy changes aimed at reducing the rising cost of insurance.

The Calgary Herald has reported that provincial representatives will debate a number of options today, including the possibility of having the province offer part of or all vehicle insurance as it currently does in B.C. and Manitoba.

MLA Rob Renner will chair the meeting today in Calgary, which has been held in response to increasing complaints about rising insurance premiums. It’s not yet clear whether commercial vehicle insurance will be included in the discussions.

“What it comes down to is how angry are people at the insurance premiums they are paying, and would they be open to this government playing a direct role in that?” one government official told the Herald.

MLAs are reportedly expecting the debate to be heated and some have already voiced their displeasure over the notion of government getting involved in the insurance industry. Other topics of discussion expected to be raised include lowering insurance rates for young drivers until they are involved in an accident or committed traffic offence. Also, limiting the amount of compensation injured drivers can collect may also be considered.

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