Posted on Sep 28, 2020
AUTO INSURANCE RATES SKYROCKET AFTER RATE CAP REMOVED BY UCP
EDMONTON -- New data shows that automobile insurance premiums have dramatically increased since Jason Kenney and the UCP removed the cap on rate increases.
According to data compiled by LowestRates.ca, rates have increased by more than 22 per cent for Albertans in the past year.
“Thousands of Albertans are unemployed and struggling to make ends meet. Now they’re facing massive cost increases at a time when they can least afford it,” said Jon Carson, NDP Critic for Service Alberta.
In August 2019 the UCP removed the five per cent rate cap on insurance premiums implemented by the previous NDP government.
The NDP Opposition previously confirmed through the Alberta Lobbyist Registry that before the cap was lifted, UCP Campaign Director and former Jason Kenney Chief of Staff Nick Koolsbergen registered to lobby the Premier and Minister of Finance to remove the cap on auto insurance rate increases.
In December 2019 the UCP struck a panel to review skyrocketing auto insurance rates but, to date, there has been no public information as to the work of the panel or solutions for Alberta drivers.
“Instead of fixing the problem, the UCP is making it worse. The solution is simple - reinstate the rate cap,” said Carson. “Profitable corporations continue to get ahead through backroom deals with Jason Kenney and the UCP, while Albertans fall further behind.”