The NBIB has received a number of requests from insurers to make temporary adjustments to approved rates as a way of providing consumer relief during the ongoing coronavirus pandemic. The NBIB is supportive of these efforts to help during these challenging times. For specific details on how this relief might impact you please contact your insurance company, broker or agent directly.
The New Brunswick Insurance Board has been assigned, by legislation, an important responsibility since 2004: to ensure that the premiums charged by automobile insurance companies conducting business within our province are just and reasonable. The Board is strongly committed to doing just that, through its multiple review and inquiry mechanisms.
We are proud that New Brunswick drivers are currently paying amongst the lowest rates in the country. The Board pledges to continue to closely monitor the situation on rates and to stay abreast of any changes in the industry to ensure New Brunswick consumers are paying fair rates.
We understand New Brunswickers value predictability in knowing what they will be paying for insurance. We also understand that availability of insurance, as well as choice is important for New Brunswickers. We remain optimistic that with the application of our extensive review and inquiry mechanisms that are in place, we will continue to achieve reasonable rate and market stability.