Ianni Law is raising concerns about recent discussions about the Alberta government overhauling the auto insurance industry. In response to rising insurance claim costs and recent government-imposed price caps, some industry leaders have called for reforms that would move Alberta toward a public or no-fault insurance model, according to a Monday press release. Ianni Law warned these changes could restrict consumer choice and diminish drivers’ rights to fair compensation.Alberta’s current private insurance model allows drivers to seek legal recourse in car accident cases, setting it apart from the public systems in British Columbia and Saskatchewan. This structure supports consumer choice.Ianni Law said it is imperative drivers do not lose their right to sue. If a full no-fault system was adopted, it said it would strip Albertans of their ability to sue other people for damages if they are injured by them in car accidents. If people are injured by negligent drivers, it acknowledged they should have the right to sue for all damages. It said it cannot calculate the damages on a predetermined chart or by a predetermined amount. There are many instances where people will get into accidents after finishing their post-secondary education, starting a new job, or starting a new business. Therefore, it said auto insurance companies cannot quantify and compensate those who have not established their careers under a no-fault system.Ianni Law said it supports reforms keeping premiums affordable and protecting drivers’ options within the private model.Alberta Treasury Board President and Finance Minister Nate Horner has said public input will be integral to shaping these potential reforms, and Ianni Law encouraged Albertans to stay engaged in the conversation. As the Alberta government considers changes, it said it remains committed to advocating for a balanced approach maintaining affordability, flexibility, and consumer rights in the auto insurance industry. CBC News learned on Monday the Alberta government will be saying this week it will enable auto insurance companies to raise premiums by the more than 3.7% rate cap it enacted and bring about more savings later on by removing personal injury lawsuits and legal claims from the system. .Alberta government to lift auto insurance rate cap, end right to sue in crashes .Auto insurance industry sources with knowledge about the changes said the Alberta cabinet has endorsed changing the province's insurance system to a mostly no-fault one.Under a no-fault insurance system, accident victims lose the right to sue the drivers who caused them. To compensate victims, insurance companies pay out injury benefits based on predetermined guidelines.
Ianni Law is raising concerns about recent discussions about the Alberta government overhauling the auto insurance industry. In response to rising insurance claim costs and recent government-imposed price caps, some industry leaders have called for reforms that would move Alberta toward a public or no-fault insurance model, according to a Monday press release. Ianni Law warned these changes could restrict consumer choice and diminish drivers’ rights to fair compensation.Alberta’s current private insurance model allows drivers to seek legal recourse in car accident cases, setting it apart from the public systems in British Columbia and Saskatchewan. This structure supports consumer choice.Ianni Law said it is imperative drivers do not lose their right to sue. If a full no-fault system was adopted, it said it would strip Albertans of their ability to sue other people for damages if they are injured by them in car accidents. If people are injured by negligent drivers, it acknowledged they should have the right to sue for all damages. It said it cannot calculate the damages on a predetermined chart or by a predetermined amount. There are many instances where people will get into accidents after finishing their post-secondary education, starting a new job, or starting a new business. Therefore, it said auto insurance companies cannot quantify and compensate those who have not established their careers under a no-fault system.Ianni Law said it supports reforms keeping premiums affordable and protecting drivers’ options within the private model.Alberta Treasury Board President and Finance Minister Nate Horner has said public input will be integral to shaping these potential reforms, and Ianni Law encouraged Albertans to stay engaged in the conversation. As the Alberta government considers changes, it said it remains committed to advocating for a balanced approach maintaining affordability, flexibility, and consumer rights in the auto insurance industry. CBC News learned on Monday the Alberta government will be saying this week it will enable auto insurance companies to raise premiums by the more than 3.7% rate cap it enacted and bring about more savings later on by removing personal injury lawsuits and legal claims from the system. .Alberta government to lift auto insurance rate cap, end right to sue in crashes .Auto insurance industry sources with knowledge about the changes said the Alberta cabinet has endorsed changing the province's insurance system to a mostly no-fault one.Under a no-fault insurance system, accident victims lose the right to sue the drivers who caused them. To compensate victims, insurance companies pay out injury benefits based on predetermined guidelines.
