Jagmeets 15% auto insurance PMB to be supported by liberals!

[Bryan]

Public Insurance isn't necessarily a bad thing. It's worked out fairly well for us in Manitoba and Saskatchewan. Our rates are low, the registration and the insurance are tied together, the system is simple, and making a claim is really easy.

Edited April 4, 2013 by Bryan

[Bryan]

double post...grrr

Edited April 4, 2013 by Bryan

[guyser]

Public Insurance isn't necessarily a bad thing. It's worked out fairly well for us in Manitoba and Saskatchewan. Our rates are low, the registration and the insurance are tied together, the system is simple, and making a claim is really easy.

You are correct, it isnt necessarily a bad thing.

That i works for you is great, and perhaps keeping it is the right choice. But for Ontario I dont think it would be the right change to make

Ontarians do pay more than they should be, the market is not correcting itself as it should. But there is a huge gap in the comparison betw the 2 provinces, one of density.

In ontario, insurers must provide reams of data , exprience, claims files and payouts that public insurers never really have to do. MPI is notorious for not providing data to be examined.MPI has been ordered numerous times to return rebates to clients for charging too much.

90% of all premiums in Ont are returned someway or other to the public via claims , taxes and salaries.

To switch now would cost hundred(s) of millions of dollars, and simply put we cannot afford the experiment.

[Boges]

The Liberals announced a plan to do this yesterday.

I hope the NDP won't allow Wynne to institute certain revenue tools that kills drivers across the province. A 10¢/litre hike to the gas tax will be killer for drivers across the province and will completely wipe out any gain from this gesture from the government.

[guyser]

You realize for most of us, this savings will never materialize. If you live in the GTA , or anywhere along the 401 save for the parts between London and Windsor, the rates will remain, if not go up.

So consider yourself lucky if you live in .......Thunder Bay, Kenora, Kapuskasing, Cochrane, little towns north of North Bay......woo hoo !

If not, prepare for a premium increase in the short term and pray for a bidding war to break out after the increase and see rates drop then.

[Boges]

You realize for most of us, this savings will never materialize. If you live in the GTA , or anywhere along the 401 save for the parts between London and Windsor, the rates will remain, if not go up.So consider yourself lucky if you live in .......Thunder Bay, Kenora, Kapuskasing, Cochrane, little towns north of North Bay......woo hoo !If not, prepare for a premium increase in the short term and pray for a bidding war to break out after the increase and see rates drop then.

I just got my renewal and it's going up $5/month.

I think the NDP are very naive if they believe these savings will be seen anytime soon as well.

[guyser]

$5 a month huh?

Not too bad, depending on what the premium was prior.

As for the NDP, the optics should show they got the reduction....what wont show is how few got it.

[WWWTT]

Ya it looks like that this 15% reduction plan isn't the best way to go.

I believe that public insurance is still the way.

We'll see what happens.

WWWTT

[Boges]

I believe that public insurance is still the way.

We'll see what happens.

WWWTT

It won't be that.

Edited May 2, 2013 by Boges

[guyser]

I believe that public insurance is still the way.

Dont worry, it wont happen because its a bad idea.

[PIK]

We will never see it and if you think we will, I feel for you. If anything the rates will go up 25% before the reduction gets here. Time to end this nightmare and have a election. If the NDP back the goverment again, when we do get a election they will be doomed. Andrea says she wants the see what the people want, unfortunitly she end up doing what she wants.

Edited May 3, 2013 by PIK

[Fletch 27]

Andrea has taken the typical stance and direction that ANY NDP'er would, by graciously accepting other peoples money.. Did you expect anything else from her? The Liberals were so confident with our money that they even tripled or quadrupled the amount she was asking for to buy her support and lap-dog loyalty. Typical NDP position... Bought and paid for through another persons blood sweat and Tax dollars.

Its a done deal... She sais she will ask Ontarians weather to support the Budget or not but NOWHERE on her www.yoursayontario.ca does it ASK you if you support it or not.. Shameful of her and the NDP to even CONSIDER supporting the Liberal thieves

We will never see it and if you think we will, I feel for you. If anything the rates will go up 25% before the reduction gets here. Time to end this nightmare and have a election. If the NDP back the goverment again, when we do get a election they will be doomed. Andrea says she wants the see what the people want, unfortunitly she end up doing what she wants.

[Boges]

BUMP!

http://www.theglobeandmail.com/news/national/ontario-moves-to-crack-down-on-insurance-fraud/article17268890/

Ontario will set up a new specialized team of police and prosecutors to hunt down insurance fraudsters and bring them to justice.

The new “fraud squad” is one part of a broader plan unveiled Tuesday to crack down on insurance fraud in a bid to ease pressure on the industry and help bring premiums down.

Of course this empty gesture does little to reduce prices in the near future. It's just yet another policy announcement to try and get people to forget how awful the Ontario Liberals are. They did something similar last week telling fast food restaurants to post calorie counts on the board.

I still think any measure to reduce auto insurance rates by this government is beyond pointless if they're simply going to hike the gas tax by up to 10¢/litre.

[guyser]

Nice to see them go after fraudsters, however it wont be nearly enough.

If anyone in the GTA thinks rates will go down has been hanging w RoFo in back alleys doing crack. Rates will go down (and have) in such busy locales as Timmins , Havelock, Elliot Lake, Moosonee.......and thats how they got 4.4% reduction numbers.

GTA is too much of a cash cow/payout territory to cheapen premiums.

Edited March 5, 2014 by Guyser2

[madmax]

Nice to see them go after fraudsters, however it wont be nearly enough.

If anyone in the GTA thinks rates will go down has been hanging w RoFo in back alleys doing crack. Rates will go down (and have) in such busy locales as Timmins , Havelock, Elliot Lake, Moosonee.......and thats how they got 4.4% reduction numbers.

GTA is too much of a cash cow/payout territory to cheapen premiums.

Fraud exists in all industries, especially with regards to investments/stocks, which is fertile ground for the insurance industry. I would suspect that this level of fraud trounces auto insurance fraud. However, like SHOPLIFTERS, it is not more prolific then any other fraud, as petty thieves and organized rings engage in all businesses. The insurance industry needs to combat fraud itself and that fraud even exits WITHIN The industry, thus you have internal SCAMS as well as the insurance industry using its own illegal practices to deny/delay and ad costs to legitimate claims. However the system is not broken. The insurance industry reaps in large guarranteed profits, like other government regulated business.

So my question to you is,

1) HOW? does the government reduce fraud within the insurance industry?

2) Why is the strongest most powerful sector unable to deal with fraud.

I have to say , I recall my own insurance company pulling a fast one on me some 17 years ago, during the Harris era, and instead of addressing my concerns, which I soon discovered were legit and the "Corporate Policy Procedure" illegal, there defence was an ATTACK and Diversion, pointing to me all the FRAUD they have to do deal with. Well I the young man was not a fraudster, he had just finished his course on insurance fraud, and he became obessesed with it, unable to even realize that his own company was breaking teh law and it was in black and white.

I settled and then I choose to go to another insurance provider even though all issues were resolved to my benefit, it was a one year headache within the OIB (now done through the FSCO , iirc?)that caused me to lose faith/trust within the industry.

Top down policies that violate provincial law, are never addressed unless one wants to challenge through the OMB and While I believe in fighting for whats right, I doubt I would do it again, I would just find another avenue like others.

I believe we could lower Insurance rates by creating either a FULLY PUBLIC insurance system or Opening the market globally four Ontarios Insurance business.

In the meantime, while I agree with you guyser that the GTA is a cash cow, it is also the source of more legititmate insurance concerns. However I am happy to hear that the Northern Communities got he break they deserved.

And while these concerns of the GTA may be legitimate, the truth is , its insurance and the odds are stack in the industries favour to make profit and its guarranteed.

I knew the industry was not forth coming with regard to Auto insurance "Losses" the moment the banks jumped in on the Gravy Train. Something that I don't beleive they should be involved within, as I don't believe that Banking competition with insurance companies has lead to lower rates..

Edited March 9, 2014 by madmax

[Topaz]

A Rep. for the Insurance company said, that they have 16,000 claims in the court and so they have to keep money back for those claims and they couldn't reduce it to 15% but could do 8% by June-July and the individual reduction would depend on when one insurance policy is up for renew. and lets remember, when the thought of insurance be reduced, some companies already increased some policies. Maybe the only way to get a cheaper rate is to move out of big cities, try not to get a ticket and get a older car, which will probably pass the e-mission testing. Sad.

[guyser]

So my question to you is,

1) HOW? does the government reduce fraud within the insurance industry?

They dont , simply put. It is the job of each ins company to combat it, assisted by the IBC, IBAO et al, by underwriters.

The govt can only write laws that assist in helping expose fraud. It isnt easy since the cost of investigating is quite often more than simply payi8ng it out.

2) Why is the strongest most powerful sector unable to deal with fraud.

I dont think they are , not nearly like the banks or other pillors. Kind of a quiet business really.

I have to say , I recall my own insurance company pulling a fast one on me some 17 years ago, during the Harris era, and instead of addressing my concerns, which I soon discovered were legit and the "Corporate Policy Procedure" illegal, there defence was an ATTACK and Diversion, pointing to me all the FRAUD they have to do deal with. Well I the young man was not a fraudster, he had just finished his course on insurance fraud, and he became obessesed with it, unable to even realize that his own company was breaking teh law and it was in black and white.

I settled and then I choose to go to another insurance provider even though all issues were resolved to my benefit, it was a one year headache within the OIB (now done through the FSCO , iirc?)that caused me to lose faith/trust within the industry.

Top down policies that violate provincial law, are never addressed unless one wants to challenge through the OMB and While I believe in fighting for whats right, I doubt I would do it again, I would just find another avenue like others.

I believe we could lower Insurance rates by creating either a FULLY PUBLIC insurance system or Opening the market globally four Ontarios Insurance business.

In the meantime, while I agree with you guyser that the GTA is a cash cow, it is also the source of more legititmate insurance concerns. However I am happy to hear that the Northern Communities got he break they deserved.

And while these concerns of the GTA may be legitimate, the truth is , its insurance and the odds are stack in the industries favour to make profit and its guarranteed.

I knew the industry was not forth coming with regard to Auto insurance "Losses" the moment the banks jumped in on the Gravy Train. Something that I don't beleive they should be involved within, as I don't believe that Banking competition with insurance companies has lead to lower rates..

Lots to go over here.

17 yrs ago was a long time and I barely remember the rules but can tell you they were tightened up since. A better understanding and prmotion of client rights has been one big change.

The start of a the ombud programme is another.

I would like more info re the top down / violate law you speak about.

A fully public ins company should be (but may not) the worst thing we could do and would probably raise the rates. The problem is that the benefits were too generous, too far reaching, scammed far too long. A public ins comp like ICBC pays out the lowest in accident benefits, yet isnt that much cheaper than here (Van vs TO) So yes, we couyld reduce rates but the benefits would not nearly be a s good.

I am no proponent of the $30,000 deductible we all have on BI suits. I think it unfairly penalizes the honest person who may be legit yet caught in the nuisnace portion of a days cliams.

Some companies make money, plenty dont. A return of 105% is wonderful, few achieve it. (yes I know about creative accounting)

I probably havent answered you well, sorry, lots going on, but ask away and I will research and reply asap.

[PIK]

You realize for most of us, this savings will never materialize. If you live in the GTA , or anywhere along the 401 save for the parts between London and Windsor, the rates will remain, if not go up.

So consider yourself lucky if you live in .......Thunder Bay, Kenora, Kapuskasing, Cochrane, little towns north of North Bay......woo hoo !

If not, prepare for a premium increase in the short term and pray for a bidding war to break out after the increase and see rates drop then.

So true guyser, so true.

[Boges]

Got my renewal. Huzzah! Huzzah! it's actually gone down.

Still won't vote for the Liberals.

[guyser]

Got my renewal. Huzzah! Huzzah! it's actually gone down.

Still won't vote for the Liberals.

Live in the GTA or outskirts?

How much did it go down? (% wise)

[Boges]

In the Toronto Burbs, around 12%. It's combined with home insurance too.

Edited April 10, 2014 by Boges

[guyser]

good < its money in your pocket then