Alberta government to lift auto insurance rate cap

Insurance Business Magazine | September 03, 2019

Alberta’s United Conservative Party (UCP) government has chosen not to renew the cap on auto insurance rate increases imposed by the previous NDP government. The cap limited auto insurance rate increases made in Alberta to a maximum of 5%. The rate increase limitation applies to an insurance company’s entire private passenger automobile insurance business – not individual insurance policies. It was set to expire on August 31, 2019. CityNews warned that drivers’ rates could rise soon as a result of the cap’s dismissal. Finance press secretary Charlotte Taillon explained that the Automobile Insurance Rate Board will be responsible for adjusting auto insurance rates moving forward. The government’s decision to lift the cap has been met with strong support from the Insurance Bureau of Canada (IBC). “We’re hoping to see some of the issues addressed within the system, and we’re also looking to just open up the insurance market a little bit more,” said IBC Western vice-president Celyeste Power.

Spotlight

A car accident, a burglary, a washing machine breaking down. No-one is immune from these sorts of incidents - and insurance provides us with a way to mitigate that risk. Low-income households can face these issues like anyone else. But they are significantly less likely to have insurance to cover them.

Spotlight

A car accident, a burglary, a washing machine breaking down. No-one is immune from these sorts of incidents - and insurance provides us with a way to mitigate that risk. Low-income households can face these issues like anyone else. But they are significantly less likely to have insurance to cover them.

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Centerbridge Joins Realogy to Launch Title Insurance Underwriter Venture

Title Resources Group | March 30, 2022

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Hub International Acquires CAPAX Management and Insurance Services

Hub International, CAPAX Management and Insurance Services | January 11, 2021

Hub International Limited (Hub), a leading full-service global insurance broker, reported today that it has acquired CAPAX Management and Insurance Services, Inc. (CAPAX). Terms of the exchange were not revealed. Situated in Modesto, California, CAPAX is one of the biggest privately claimed insurance brokerage and representative advantages counseling associations situated in Central California. CAPAX gives multi-line insurance solutions, including personal and commercial, worker benefits items and risk management solutions for their customers. CAPAX's ability in carrying hostage solutions to their customers and their attention on different ventures, for example, agribusiness (crop), supplements and fortifies Hub's current capacities. "CAPAX is a great addition to the Hub family as we continue our growth strategy in the region by adding specialized capabilities that will expand the depth of our insurance and risk management solutions," said Michael Der Manouel, Executive Vice President of Hub California Central Valley. "We look forward to joining Hub – a leading brokerage firm with strong values and an utmost commitment to clients," said Mr. Geddes. "With Hub, we will be well-positioned to provide a full suite of services to fit our clients' growing needs." About Hub's M&A Activities Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience. About Hub International Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 12,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information.

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Core Specialty Partners with Risk Placement Services to Offer Lawyers Professional Liability Insurance

Core Specialty Insurance Holdings | October 18, 2021

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