No. Alberta has a competitive insurance market and insurers compete for Albertans’ hard-earned premium dollars. Many insurers request less than their justified rates as a consumer focused measure or to try to increase their market share.

The AIRB also closely monitors and approves the rates insurers can charge. No insurer can increase or even decrease their rates without explicit approval from the independent AIRB.

However, on January 26, 2023, the Alberta government announced a freeze on all private passenger vehicle (PPV) auto insurance rate filings until the end of 2023. In its communications, government has been clear that drivers may still see rate increases on their renewals in 2023, due to previously approved rate changes, changes to driving records including at-fault claims and tickets, or changes to insurance profiles such as a new address or a different vehicle being insured.