Home Breadcrumb caret News Breadcrumb caret Industry Ontario auto insurance rates down average of 4% since budget plan: report Auto insurance rates in Ontario have dropped by 4% on average as part of the Liberal government’s overall plan to reduce rates by an average of 15% by 2015, the Toronto Star reported Tuesday. Background: Ontario government announces plan to reduce auto insurance rates by 15% within two years The newspaper’s report, based on unnamed […] By Canadian Underwriter, | January 14, 2014 | Last updated on October 30, 2024 1 min read Plus Icon Image Auto insurance rates in Ontario have dropped by 4% on average as part of the Liberal government’s overall plan to reduce rates by an average of 15% by 2015, the Toronto Star reported Tuesday. Background: Ontario government announces plan to reduce auto insurance rates by 15% within two years The newspaper’s report, based on unnamed sources, says that the Financial Services Commission of Ontario (FSCO), will formally announce the 4% drop on Wednesday. The report also quoted NDP MPP Jagmeet Singh, who said that the government is “nowhere near 15 per cent and they’re nowhere near the 8 per cent that they promised in one year,” referring to the promise of reaching an 8% average reduction by August 2014, and the full goal by August 2015. Canadian Underwriter Print Group 8 LinkedIn LI X (Twitter) logo Facebook Print Group 8
