The Government is Seeking Input on How to Make Auto Insurance More Affordable
St. Thomas - This week, the Ontario government announced that it is taking another
step to get auto insurance costs in Ontario under control. Drivers, consumers, and
businesses are encouraged to share their views on how the auto insurance system
can be modernized and improved.
"The previous government's failed system of stretch goals on auto insurance is clearly
broken. Auto insurance rates in Ontario are among the highest in the country, and
action is needed," said Vic Fedeli, Minister of Finance. "We want to hear directly
from you on how to improve the system."
Consumers and businesses are invited to share their views by visiting
and by providing input no later than February 15, 2019.
"Lower auto insurance rates will keep more money in taxpayers' pockets. Our government
continues to deliver on its promises to find greater efficiencies and introduce
more innovation in the system," said Jeff Yurek, MPP for Elgin-Middlesex-London.
The Putting Drivers First consultation will coincide with a review of Ontario's
auto insurance rate regulation system, jointly conducted by the Ministry of Finance
and the Financial Services Regulatory Authority of Ontario, as mentioned in the
2018 Ontario Economic Outlook and Fiscal Review. The review will examine practices
in other jurisdictions and identify opportunities to achieve greater efficiencies
and introduce more competition in the system.
The consultation represents the latest step to get auto insurance costs under control
in Ontario. In addition to meeting with auto insurance stakeholders to get ideas
on ways to modernize the system by cutting red tape, Ontario is:
- There are nearly 10 million drivers across the province.
- Drivers are required by law to have auto insurance coverage and have the right to
fair treatment by their insurer, including timely handling of claims and the ability
to file a complaint if necessary.
- The Financial Services Regulatory Authority of Ontario will be a new, flexible and
responsive independent financial regulator