More Insurance Changes Coming??

[undercoverbrother]

http://globalnews.ca/news/951143/alb...surance-rates/

With Bill 39, it’s now proposing to regulate optional insurance as well. That includes collision.
“Albertans have told us they want increased oversight in their auto insurance rates and we’ve listened,” says Minister of Finance Doug Horner. “These reforms will set insurance rates that are fair for Albertans and make our already strong auto insurance system even better.”
There’s another big change coming – rather than an industry-wide annual rate adjustment, each insurance company would have to file for approval of their rate increases to the Automobile Insurance Rate Board.

http://www.calgaryherald.com/news/al...656/story.html

Bill 39, the Enhancing Consumer Protection in Auto Insurance Act, would allow for both mandatory and optional auto insurance premiums to be regulated by the independent Automobile Insurance Rate Board.
While Alberta already has legislation regulating mandatory insurance premiums — like third party liability — the proposed changes would ensure optional premiums, like those allowing drivers to choose whether they want to be covered for damage to their own vehicles, will also be regulated.
Heather Mack, director of Alberta government relations for the Insurance Bureau of Canada, said consumers should be pleased with increased regulations, which she said could keep premiums down.
“This is definitely good for consumers. But at the industry level, we want less regulation. We want more flexibility, more competition.”

Interesting.

[DownhillGoat]

So we're a step closer to being SGI? Not sure if in the end leveling off competition will benefit consumers. We'll see I guess.