Alberta's auto rates up and down

Canadian Underwriter had reported that the Alberta rate board received no applications increase of premium level for the basic coverages in the first quarter of 2009. This applies to private passenger vehicles.

There has bee on change to the basic rate for private passenger vehicles approved in the first quarter, a 1.9% premium reduction for AXA Pacific Insurance Company.

Seven insurance companies applied for and got approval for rates changes for the additional coverages on the automobile insurance.

Co-Operators General Insurance Company received approval for a 15.7% increase.

Guarantee Company of North America received approval to change the rating of its Limited Glass Coverage (SEF 13d) on comprehensive coverage, which should result in a 9.8% decrease.

Other rate approvals for additional coverage include:
• AXA Pacific Insurance Company (0.9% decrease).
• ING Insurance Company of Canada (5.7% increase);
• ING Novex Insurance Company (5.6% increase);
• Trafalgar Insurance Company of Canada (4.6% increase)

ING Insurance Company of Canada received approval for commercial vehicles of a 0.8% decrease for third party liability and 13.7% increase for accident benefits, for a 0.3% decrease combined.

Overall for the first three months of 2010 the rates in Alberta dropped about 1.6%.