Compete

Canadian P&C Insurance News and Analysis

  • Alberta
Regulation

Alberta’s Grid Rating System to be Removed

  • Effective
  • January 1, 2027
Introduced in 2004 by the Alberta Automobile Insurance Rate Board (AIRB), the Grid was designed to protect consumers by establishing the maximum premiums insurers could charge for mandatory auto coverages.
Open Note
  • Ontario
Regulation

Ontario Auto Insurance Reform makes most Accident Benefits Optional

  • Regulation effective
  • July 1, 2026
Ontario’s SABS overhaul makes 9 of 12 Accident Benefits optional. Only Medical, Rehabilitation, and Attendant Care will remain mandatory.
Open Note
  • Alberta
Regulation

‘Care-First’ Reforms to Alberta Auto Insurance

  • Reforms effective
  • January 1, 2027
On March 24, 2025, Alberta’s Finance Minister Nate Horner introduced Bill 47 – the Automobile Insurance Act to implement the province’s Care-First auto insurance model. The Act received Royal Assent on May 15, 2025, and the new insurance system will be effective as of January 1, 2027.
Open Note
M&A

Definity Buys Travelers Canada

  • Acquisition announced
  • May 27, 2025
Definity Financial Corporation has entered into a definitive agreement with Travelers to acquire Canadian operations of Travelers (other than Travelers’ Canadian surety business) for $3.3 billion.
Open Note


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