Ontario will fall short of its promise to cut auto insurance rates 8 per cent by next month, Finance Minister Charles Sousa acknowledged Tuesday as average premiums inched 0.22 per cent higher in the second quarter
Author Archives: Admin2
Auto Insurance Rates for the Second Quarter of 2014
This notice provides an overview of the private passenger automobile insurance rate changes approved or ordered by the Financial Services Commission of Ontario (FSCO) for filings reviewed in the second quarter of 2014. The number of filings reviewed by FSCO and the overall average rate change for the Ontario market may vary from quarter to quarter, based on updated information about claims costs, market conditions and other financial factors and the resulting impact that these factors have on the adequacy of an insurance company’s current rates.
combine 171 and 189 as bill 15
- Ontario Liberals have re-introduced and combined Bills 171 and 189 as Bill 15. The legislation contains some of the controversial changes introduced in Bill 171 including a reduction in prejudgment interest and restrictions on the ability to resolve SABS disputes in court.
Ontario budget’s effect on car insurance will be minimal
The Budget presented on July 14, 2014 will have little effect on car insurance. The Liberal Party had stated last year that insurance rates must be reduced by 15% but did not indicate how this would be accomplished. They seem to think that insurance companies can make changes without any actuarial studies or logical reasons.
http://www.insblogs.com/auto/ontario-budgets-effect-car-insurance-will-minimal/1600
Mediation in personal injury actions (Ontario)
Mediation is an important step in any legal case. In fact, mediation is so important, that in Toronto, Ottawa and Windsor, mediation is actually required BEFORE a matter can be set down for trial. The Financial Services Commission of Ontario (FSCO) requires that all accident benefit disputes get mediated BEFORE they can proceed to Arbitration or to litigation. if you fail to mediate, then you can’t proceed.
http://www.torontoinjurylawyerblog.com/2014/07/mediation-in-personal-injury-actions-ontario.html
Improved interactions drive gains in customer satisfaction with auto insurance claims in Canada: J.D. Power
Respondents to J.D. Power’s 2014 Canadian Auto Claims Satisfaction study report being significantly happier with their auto insurance company’s claims process in 2014 than in 2013
Stop cell service to vehicles, says broker
The alarming numbers associated with distracted driving and texting while driving released last week prompted one broker to wonder if the problem couldn’t be solved at the source – the cell phone providers.
http://www.insurancebusiness.ca/news/stop-cell-service-to-vehicles-says-broker-178936.aspx
CAA Brings Usage-Based Insurance to Ontario
CAA Insurance Company (Ontario) is recognizing and rewarding good drivers. Today, CAA South Central Ontario (CAA SCO) launched the first phase of CAA Connect with its usage-based insurance program. A free and voluntary program, CAA Connect uses personal driving habits to help promote safer driving at reduced insurance rates. Once the device is snapped in to their vehicle’s diagnostic port, customers can begin viewing their driving activity, score and safety tips online. Drivers will also be able to track their vehicle’s health and fuel efficiency, as well as set service reminders
http://blog.caasco.com/whatshappening/caa-brings-usage-based-insurance-ontario/
Liberals renew bill to reduce auto insurance rates
Ontario’s governing Liberals are reviving legislation aimed at reducing auto insurance rates and inflated towing costs.
Anxiety and Depression Does Not Necessarily Exclude One From The Minor Injury Definition
A recent FSCO arbitration case (by an ADR Chambers arbitrator), Lo-Papa and Certas Direct, determined that the existence of anxiety and depression following an accident does not necessarily exclude one from the minor injury definition or the $3,500 treatment cap.