The Insurance Brokers Association of Ontario (IBAO) has come out in favour of Bill 171, the Fighting Fraud and Reducing Automobile Insurance Rates Act. The IBAO’s position, as quoted in their press release, is that unless Bill 171 is passed there will be no way for Ontario to deliver the promised 15% average rate reduction by August 2015. The Auto Insurance Cost and Rate Reduction Strategy, which was introduced as part of the 2013 Ontario Budget, calls for an average 15 percent automobile insurance rate reduction within two years. As an interim goal, an average eight percent reduction is targetted for August 2014
http://www.insblogs.com/auto/ontario-automobile-pricing-product-reform-something-give/