Motor insurance system review launched

The Ontario government has launched a review of the province’s auto insurance system, saying it hopes to lower rates for drivers who pay some of the most expensive premiums in the country.

The analysis announced recently will examine practices in other jurisdictions to find ways to make improvements and introduce more competition. The Progressive Conservative government also said it will be consulting with drivers, insurance companies and other stakeholders until February 15.

“This (issue) has always been controversial,” said finance minister Vic Fedeli. “It was left unattended by the Liberals for 15 years and we’re going to take some real action on it.”

A report commissioned by the previous Liberal government found in 2016 that Ontario had the most expensive auto insurance premiums in Canada despite also having one of the lowest levels of accidents and fatalities.

Since that report was written, British Columbia moved into the lead with the highest rates according to the Insurance Bureau of Canada, with Ontario now the second-most expensive province.