Ontario automobile, so often the Canadian property and casualty insurance industry’s problem child, is once again in the headlines with the announcement that rates have fallen by just under 7% from August 2013 to August 2015. What makes this problematic for the industry is that the Ontario government initiated a cost and rate reduction strategy in 2013 that called for a 15% reduction by August 2015. The Liberals introduced this strategy in order to win much-needed support for their 2013 budget. At the time, the Liberals were leading a minority government and needed the support of the opposition New Democratic Party in order to pass legislation.
http://www.insblogs.com/auto/