ONTARIO TO ANNOUNCE LOWER AUTO INSURANCE RATES

Aug 23, 2013

By Scott Walker

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Ontario’s finance minister will announce plans this morning to make good on a commitment to lower auto insurance premiums.

Charles Sousa made the promise of a 15% reduction in his budget. It was a demand of the NDP as a condition of their support for the minority government’s budget.

Randy Carol is the CEO of the Insurance Brokers of Ontario. He tells the CBC not all drivers would see a 15 per cent drop in their rates. He says bad drivers are not going to reap any benefits.

Carol says insurance companies lose more than a billion dollars a year in fraudulent claims. He’s hoping Sousa will address that. But  NDP Transportation Critic Giles Bisson says insurers saved billions when the government reduced payouts for personal injuries, and they never passed that on to the public.

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