Alberta to lift auto insurance rate cap, axe right to sue in crashes: Sources. Nerve-wracking times for Alberta personal injury lawyers www.cbc.ca/news/canada/... - ThreadSky

jonnywakefield.bsky.social • 106 days ago

Alberta to lift auto insurance rate cap, axe right to sue in crashes: Sources.

Nerve-wracking times for Alberta personal injury lawyers https://www.cbc.ca/news/canada/calgary/auto-insurance-alberta-rate-hike-no-fault-1.7386459

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bouraad.bsky.social•106 days ago

Insurance companies are active lobbyists who hold a lot of influence over our politicians.

tiferrobin.bsky.social•106 days ago

If you believe insurance companies are losing money just check the earnings. This is all a narrative to create a crisis to bring in no fault. Smith notes SK is cheaper it’s public - you dunce!!!

yeggirlab.bsky.social•106 days ago

What a load of gaslighting horseshit

djclimenhaga.bsky.social•106 days ago

Have I got this right? They promised to do something about high insurance rates, so they’re going to lift the cap so that they can be even higher?

chambery.bsky.social•106 days ago

Reducing auto insurance premiums by making them higher. It’s the UCP way.

jonnywakefield.bsky.social•106 days ago

On the expectation they come down when more insurers come back to/don't leave Alberta, I think?

btwinter.bsky.social•106 days ago

Sounds like the auto sector version of power sector economic withholding, that went well!

jackspeyside.bsky.social•106 days ago

i think the theory is that a bunch of folks at the cap now will get rates over the former cap (young people, people with bad records) which will cover more costs and bring down rates for others not at the rate cap.

onlykuri.bsky.social•106 days ago

I guess it's technically "something".

gracealexander.bsky.social•106 days ago

If that means using "No Fault" then we're in trouble. Michigan switched under the guise of saving us money but was not too long before it rose and now, is more expensive!!

jmacdonald6.bsky.social•106 days ago

This doesn’t sound good. Yea, cheaper rates, but she is taking away the rights of Albertans to sue for injury compensation. Not sure how I feel about that.

ryanhumphrey.bsky.social•106 days ago

What cheaper rates? They’re uncapping how much the rates can rise

jmacdonald6.bsky.social•106 days ago

It says in the article if they remove the the fault claims it should lower cost of insurance. I seriously doubt it. They are free now to raise prices. Once again Smith is helping private insurance make more money off Albertans.

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