Debate the ideas. This is totally unacceptable.
Politicians condemn harassment of Deputy Prime Minister Chrystia Freeland https://t.co/vhUxKIvo5u via @nationalpost
Another cautionary tale from BC's no-fault auto insurance system. A cyclist was hit by a driver who ran a stop sign, thrown 45 feet and injured, but he was sent a bill from ICBC.
This is another harsh example why no-fault is not right for Alberta. https://t.co/CGKu3mqdxY
We made a calculator to show how much insurance companies are saving in reduced payouts through changes in how interest is calculated when companies delay settlements with injured consumers. Even on small payouts, insurance companies are saving a bundle. https://t.co/RDDgzJ1UFw
Funny how when you owe big companies money - like for credit cards - Canadians pay average interest rates of 19%. But when insurance companies owe you money - they pay just .02% in interest.
Did you know recent changes to our insurance system mean insurance companies will save $200 million between 2020 - 2022?
Despite the handouts & sweetheart deals that the insurance industry has been given in the past years, consumers continue to be left with no relief on premiums.
In 2020 #ableg made changes to our insurance system to benefit insurance companies. One change was to pre-judgement interest - which is the interest rate insurers pay for delaying payouts to consumers. This change saved insurance companies $200 million. https://t.co/RDDgzJ1UFw
2021 saw folks from the medical, consumer rights, & academic community discuss the drawbacks of no-fault auto insurance.
Here's Dr. Christopher Bruce, Professor Emeritus of Economics at the UofC with a piece on why no-fault is not a good fit for Alberta. https://t.co/SkgSzOjB1a
Already hurting from COVID-19 and prolonged shutdowns, some of Alberta’s bars and live music venues are seeing their premiums increase by over 350%.
Insurers must be losing a lot of money, right? No - the industry profited $9.5 billion in 2018-2021. https://t.co/YceOmEyfta
Snow removal contractors are seeing their insurance rates rise up to 425%. These contractors are small businesses run by entrepreneurs.
Remember: insurance industry profits in 2021 are $6.5 billion. https://t.co/spmWZYKDyd
Alberta’s school bus contractors are being hit with insurance increases of up to 50% — on top of last year’s 358% increase ��� for over a 400% increase in just two years.
Relevant: after-tax profit for the insurance industry in 2021 is $6.5 billion. https://t.co/DwxOXFKN0Q
Skyrocketing insurance rates alongside skyrocketing premiums raise questions. How many billions in profit does the insurance industry want? How many small businesses and public services are they willing to jeopardize to get it? https://t.co/IhnUa5FzO9
Insurance companies are trying to trick us into believing that a no-fault insurance system would be a treat for drivers. Actually, it make our insurance system a nightmare by slashing consumers' rights and putting more money into the pockets of already profitable insurers.