The New Brunswick Insurance Board (NBIB) is a quasi-judicial administrative tribunal established by the Government of New Brunswick in 2004 as the regulatory agency for automobile insurance rates with the overall supervision of automobile insurance rates in New Brunswick. The NBIB is an independent agency that operates at arm’s-length from government.
The Insurance Act requires that insurers file their proposed rates at least once every 12 months. The Board, staff and actuaries review these filings in order to ensure the proposed rates are just and reasonable. The NBIB also fulfills a stewardship role and educates consumers on automobile insurance.