Quote:
Originally Posted by Ozy_Flame
I initially thought this as well, but I'm wondering if the cap put in by the NDP was actually preventing insurance companies from keeping up with affording their claims payouts. The article says there are more claims now and they are paying $1.12 for every $1 earned, which may be why some insurance companies were trying to pull out of the province.
I am normally all for insurance caps and I am not sure getting rid of them all together is the solution, but if claims are increasing we need to address that challenge for both the insured and the insurers.
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people can't entirely blame the UCP. there was a huge jump last year, too.
the insurance people I spoke with said it was entirely due to the bath they took on payouts for all the disasters Alberta had over the past few years.