In response to complaints that insurance industry financial details are impossible to pin down, the Ministry of Finance commissioned a report on transparency and accountability in the sector but perhaps surprisingly chose the accountants for the Insurance Bureau of Canada to prepare it.
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Restricted access to justice
Two Ontario laws affect people suing to recover damages for injuries from automobile accidents
But under Ontario law only people suing to recover damages for injuries suffered in automobile accidents are subject to two laws that restrict access to justice. http://www.torontosun.com/2014/05/03/restricted-access-to-justice
Engaging the unengaged a huge challenge for politicians
Complicating matters is Andrea Horwath’s NDP, which at present has few economic policies at all, beyond raising corporate taxes and giving tax credits to employers in return for new hires. Believing the electorate has little appetite for policy ambition, the New Democrats have mostly focused on populist pitches such as lower auto-insurance rates. It’s a strategy that all but rewards Ontarians’ cynicism and complacency, although that’s not to say Ms. Horwath’s likeability couldn’t help her reach some corners of the electorate that might otherwise tune out. http://www.theglobeandmail.com/news/politics/engaging-the-unengaged-a-huge-challenge-for-politicians/article18412464/
Assessing Damages in Catastrophic Injury Claims (Ontario)
Catastrophic Injury claims, by their very nature, are the most serious car accident claims which a personal injury lawyer will face during their legal career.
New Ontario prosecution office to focus on auto insurance fraud
The Ontario government announced Thursday it plans to develop an office dedicated to investigating and prosecuting “serious fraud,” including fraudulent auto insurance claims, to prohibit credit unions from promoting auto and home insurance online and to raise wages for some personal support workers.
2014 Ontario Budget – Auto Insurance Commitments
The 2014 Ontario Budget outlined a number of commitments, however many are initiatives that have been previously been announced.
Ontario automobile pricing and product reform: Something has to give
The Insurance Brokers Association of Ontario (IBAO) has come out in favour of Bill 171, the Fighting Fraud and Reducing Automobile Insurance Rates Act. The IBAO’s position, as quoted in their press release, is that unless Bill 171 is passed there will be no way for Ontario to deliver the promised 15% average rate reduction by August 2015. The Auto Insurance Cost and Rate Reduction Strategy, which was introduced as part of the 2013 Ontario Budget, calls for an average 15 percent automobile insurance rate reduction within two years. As an interim goal, an average eight percent reduction is targetted for August 2014
http://www.insblogs.com/auto/ontario-automobile-pricing-product-reform-something-give/
New Ontario legislation on auto insurance reforms
The Ontario government has introduced new legislation “Fighting Fraud and Reducing Insurance Rates Act” to reduce auto insurance costs, fight fraud and protect consumers. IBC welcomes the proposed legislation, which reflects several recommendations from the property and casualty insurance industry.
http://www.insblogs.com/association/new-ontario-legislation-auto-insurance-reforms/
Public rails against Bill 171, Palumbo
Although the insurance industry applauds the efforts of the Insurance Bureau of Canada’s Ralph Palumbo in lobbying for the passage of Bill 171, reaction from the public has been strong and indignant – insurers are only out for bigger profit margins, many seem to feel
http://www.insurancebusiness.ca/news/public-rails-against-bill-171-palumbo-177494.aspx