Insurance reforms coming to Ontario

by admin on November 22, 2009

As most Ontario residents have personally experienced high car insurance prices, the government of Ontario has released information regarding an action plan meant to bring relief to Canadians. The government announced today that it would be looking to establish enhanced consumer protection allowing Ontario drivers to receive even greater value for their insurance dollar.

A common concern for drivers is coverage when the government becomes involved with the insurance coverage. However, the reforms that are outlined by the government are not impacting to drivers coverage while the government targets areas of confusion to ensure that the process of buying insurance is as simple as possible while in some cases increasing coverage available.

The government hopes to make the auto insurance industry more efficient to achieve better premiums for Ontario residents by instituting reforms such as setting maximum charges for fees associated with the creation of a claim by health care professionals. This would ensure that the insurance company is able to direct more of your premium towards your coverage rather than administrative costs.

These proposed changes to create more value for Ontario drivers are expected to be debated in the legislature in the summer of 2010. In the mean time call us today to speak with a broker to find out how these proposed changes can impact you.

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