IBC Presentation

Profit Provision • IBC agrees with the AIRB Board's position to maintain a 7% profit provision, as stated in the Oliver Wyman report. • ● The province's history of volatile and severe weather makes Alberta a high- risk province for insurers. Alberta already has fewer carriers competing in the market than previous years, and even fewer carriers than the entire Atlantic Region - which has roughly half the population. Any changes to the profit provision will threaten market competition in the province – hindering consumer choice - which is already at stake under the current rate pause. - 13

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