Auto insurance should provide sufficient benefits to those who need them most – the people who are seriously injured in collisions.
The FAIR lobbyists hang their hats on a recent self-funded study by personal injury lawyers. At Insurance Bureau of Canada, we believe the study is flawed. The authors’ cherry-picked assumptions are quite different from those they made in a similar study they did for the insurance regulator (FSCO) in 2013. By FAIR’s own admission, all Ontario auto insurers had losses of -1.1% from 2001-2011, yet the authors chose to highlight a 9.7% profit for companies by ignoring in their study the one-third of insurers that reported losses.
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