Our Plan for Auto Insurance Reform
There's one thing we can all agree on: auto insurance premiums are
too high in Ontario. This puts added strain on household budgets and
families who already feel the pressures of high taxes, unemployment, and
rising debt.
The fact is only the Ontario PCs have a credible plan to reduce auto insurance rates. To date, the current government has only accomplished the opposite: they've driven up auto insurance rates by making deliberate choices to add red tape and unnecessary bureaucracy. All of this has made it harder for providers to lower their costs. Now the government - along with the NDP - once again has only empty promises to offer when it comes to reforming the auto insurance system. They have no idea how they would cut rates, and that's an equation for failure.
In contrast, the PC Auto Insurance Action Plan proposes reform in four key areas of the auto insurance system. The plan is based on over a year's worth of research and consultations with drivers and experts from the legal, insurance and medical communities.
We would help eliminate red tape, fight insurance fraud, make the dispute resolution process more effective and ensure auto insurers are accountable to customers.
We need practical solutions - like reforming the premium approval system that stalls rate reductions with hundreds of pages of paperwork and excessive administrative costs - which are then passed on to drivers.
The fact is only the Ontario PCs have a credible plan to reduce auto insurance rates. To date, the current government has only accomplished the opposite: they've driven up auto insurance rates by making deliberate choices to add red tape and unnecessary bureaucracy. All of this has made it harder for providers to lower their costs. Now the government - along with the NDP - once again has only empty promises to offer when it comes to reforming the auto insurance system. They have no idea how they would cut rates, and that's an equation for failure.
In contrast, the PC Auto Insurance Action Plan proposes reform in four key areas of the auto insurance system. The plan is based on over a year's worth of research and consultations with drivers and experts from the legal, insurance and medical communities.
We would help eliminate red tape, fight insurance fraud, make the dispute resolution process more effective and ensure auto insurers are accountable to customers.
We need practical solutions - like reforming the premium approval system that stalls rate reductions with hundreds of pages of paperwork and excessive administrative costs - which are then passed on to drivers.
Fraudulent activity continues to drive up costs for honest drivers in
Ontario. Experts estimate that fraud costs auto insurance customers
$750 million to $1.5 billion a year. By addressing fraud, we can help
bring down costs for Ontario drivers.
Costly bureaucracy in the dispute resolution process drives up premiums and delays much needed access to care. We need to make use of private mediators to expedite the process and reduce costs.
Proposals like these have been proven to work elsewhere, especially in Chicago where insurance costs are below the American average. In New Brunswick, which has less than half the auto insurance regulations than Ontario, drivers have seen a decline in rates each year since 2007.
The Ontario PCs are ready to take action, because we know that when customers save on auto insurance rates, they can invest this money in what matters most to their businesses and families, helping the economy to grow and attracting more jobs to communities.
-Jeff Yurek, Ontario PC Caucus Finance Critic for Auto Insurance Reform
Source: http://www.ontariopc.com/autoinsurance/
Costly bureaucracy in the dispute resolution process drives up premiums and delays much needed access to care. We need to make use of private mediators to expedite the process and reduce costs.
Proposals like these have been proven to work elsewhere, especially in Chicago where insurance costs are below the American average. In New Brunswick, which has less than half the auto insurance regulations than Ontario, drivers have seen a decline in rates each year since 2007.
The Ontario PCs are ready to take action, because we know that when customers save on auto insurance rates, they can invest this money in what matters most to their businesses and families, helping the economy to grow and attracting more jobs to communities.
-Jeff Yurek, Ontario PC Caucus Finance Critic for Auto Insurance Reform
Source: http://www.ontariopc.com/autoinsurance/
No comments:
Post a Comment
Thank you for your comments.
Canadian Insurance News does not endorse any of the views posted. By submitting your comments, you acknowledge that we have the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever.