AB.Grid

The GRID rating concept is unique to Alberta. It sets the maximum premium for basic coverages (AccBen, TPL) for any driving record.

Pop Quiz

• What are the 5 reasons for government involvement in insurance?
• Hint: FCC(ES)

Keywords

Alberta, premium cap

In Plain English!

• I will invite you to take a leap of faith and spend 10 minutes or less on AB.Grid. There are 2 main areas:
  • concept behind the Alberta GRID rating program
  • details of how GRID rates are calculated
• Learn the concept. Skip the details. (It's true that there have been past exam questions on the details of Ontario PPA rating in FSCO.PPA, but Ontario is a much larger market.)

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BattleCodes

• Memorize:
  • why was GRID developed?
  • what would happen it it were eliminated?

• Conceptual:
  • AB GRID is an example of government involvement in insurance.

• Calculational:
  • none

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POP QUIZ ANSWERS

• 5 reasons for governmental participation in insurance? FCC(ES)

for FILLING NEEDS unmet by Private Insurance

when insurance is COMPULSORY

for CONVENIENCE

for EFFICIENCY

for SOCIAL purposes