Regulation (November 01, 2009)

By Canadian Underwriter | October 31, 2009 | Last updated on October 1, 2024
1 min read

ONTARIO REGULATOR APPROVES 6.2% AVERAGE AUTO INSURANCE RATE INCREASE FOR 2009 Q3

FSCO has approved auto insurance rate increases in 2009 Q3 averaging 6.2% when weighted by market share.

State Farm Mutual Automobile Insurance Company, the company with the largest market share to obtain a rate change during the third quarter, was approved for a rate increase of 5.59%

Kingsway General Insurance Company obtained the quarter’s largest rate increase, at 10%.

Apart from State Farm, the Top 5 Ontario auto insurers, ranked by market share, that asked for 2009 Q3 rate changes included: Co-operators General Insurance Company (+4.98%), Wawanesa Mutual Insurance Company (+9.72%), AXA Insurance (Canada): (+7.30%), Farm Mutual Reinsurance Plan Inc. (+8.17%), and Royal & SunAlliance Insurance Company (+4.93%).

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Canadian Underwriter

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