This July, Economical Insurance will be increasing the commercial building inflation factor for Small and Medium Enterprises (SME), Mid-Market, and Agribusiness customers.
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The Alberta Auto Insurance Rate Board (AIRB) is the organization charged with regulating auto insurance premiums in Alberta. Each quarter insurance companies can file requests asking for changes to their rates. The AIRB reviews these requests and approves or deny's them based on "actuarial justification and the insurer’s individual circumstances to ensure insurance is accessible, equitable and sustainable for all Albertans". The decisions have just been released for last quarters filings. Here's what these mean to Alberta motorists.
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A recent study indicated Commercial
Insurance pricing in the United States increased by an average of 5% in 2012 Q1 over the same period last year, noted Tower Watson consulting.
This represented the fifth consecutive quarter that prices rose for all standard commercial lines, according to the professional services company’s Commercial Lines Insurance Pricing Survey (CLIPS).
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Unlike automobile Insurance you are not required to have building insurance if you own the building free and clear. By not buying insurance you are 'self-insuring' your building and and liability losses that may be associated with it.