Latest News
Updated April 1, 2020: Information from the AIRB regarding COVID-19.
Added March 27, 2020: Bulletin 01-2010 - Industry PPV Benchmarks Schedule, effective April 1, 2020.
Added March 13, 2020: 2019 AIRB Annual Report.
Added January 31, 2020: Notice 01-2020 and documentation for AIRB 2020 Semi-annual Review of Industry Experience as of June 2019 for Private Passenger Vehicles.
Added January 31, 2020: 10 Ways to Lower your Automobile Insurance Premiums.
Added January 10, 2020: AIRB Filing Decisions for the 4th Quarter of 2019.
See the archive page for earlier updates.
Corporate Governance and Code of Conduct
Governance defines the roles, relationships, powers and accountability between the Government, the Board and Management.
Index
- Relationship to Government
- Board Governance
- Code of Conduct and Ethics
- Charter of Expectations
- See related pages:
Relationship to Government
The Minister of Finance and the Government of Alberta, through legislation (Insurance Act), established the Alberta Automobile Insurance Rate Board (AIRB or the Board) in October, 2004 as an independent, quasi-judicial regulator. In this capacity, the AIRB is responsible for regulating automobile insurance premiums in Alberta. The Board, through its functions and statutory duties and responsibilities, serves all Albertans - the public, industry and Government. In addition, the Board must exercise and perform any other powers and duties assigned to it by the Minister or prescribed by the regulations.
Board decisions regarding applications, premium levels and other related areas are made independently of Government and pursuant to the AIRB's enabling legislation.
As part of Government's "Tools for Accountability" the AIRB is required to submit this Annual Report along with its Business Plan to the Minister on an annual basis.
Board Governance
The Board approves the corporate vision, mission, values, strategic priorities and goals that guide the AIRB. The Board sets goals for performance as part of the business planning process and these goals are the basis upon which accountability and performance is evaluated.
The AIRB's membership consists of 7 members appointed by the Lieutenant Governor in Council, a consumer representative appointed by the Minister, and the Superintendent of Insurance who is a non-voting member of the Board. In total the AIRB Board consists of 9 members with a broad range of expertise and experience. A Board member's term of office must not exceed 3 years; however, a Board member may be reappointed for 2 additional terms. Limits on reappointment do not apply to the Chair and the Consumer Representative.
The Insurance Act provides for a chair and a vice-chair as appointed by the Lieutenant Governor in Council. The Board holds regular monthly meetings to deal with administrative issues of the Board and otherwise exercise its mandate. In addition, it holds public meetings for the annual industry-wide adjustment process.
The Board's governance processes and guidelines outlining how the Board will carry out its duties are in keeping with the Public Agencies Governance Framework.
Code of Conduct and Ethics
The Code of Conduct and Ethics for the Automobile Insurance Rate Board applies to all members and employees. The Code reflects a commitment to the agency's values and provides a framework to guide ethical conduct. Members and employees are expected to behave in a way that supports this Code.
As an independent agency established by the Minister of Finance to regulate automobile insurance premiums in Alberta, there is an obligation to Albertans that there not be, nor seem to be, any conflict between the private interest of members and employees and their duty to the public. At the same time, it is recognized that members and employees should enjoy the same rights in their private dealings as any other citizens unless it can be demonstrated that a restriction is essential to the public interest.
- Code of Conduct and Ethics - effective April 1, 2019
Charter of Expectations
The Board has adopted the following guiding principles which provide an understanding of the roles, expectations and responsibilities of each Board member.
- Assume with other Board members the stewardship role of supervising the management and business affairs of the AIRB.
- Act in the highest ethical manner and with integrity in all personal, business and professional dealings.
- Become knowledgeable about the AIRB's business, the environment in which it operates and the emerging trends and issues in the automobile insurance industry.
- Commit enough time and sufficient attention to the work of the AIRB as may be required from time to time.
- Act in a way that contributes to the effective operation of the Board.
