http://www.windsorstar.com/Auto+insurance+other+gouges/8846283/story.html
Author Archives: Admin2
FSCO clears auto insurance mediation backlog
When we look at those numbers we see that the steady incline of claims follows the decline in benefits. Quick math – 10,510 arbitration hearings that take approximately 6-8 days (according to FSCO)equals between 63,060 and 84,080 days of hearings. Divide that by the 5 day week and you have 16,816 weeks of Arbitration hearings to work through.
http://www.canadianunderwriter.ca/news/fsco-clears-auto-insurance-mediation-backlog/1002556748/
Forensic Experts May Be Biased By the Side That Retains Them
“The justice system relies often on expert witnesses, and most expert witnesses believe they perform their job objectively — these findings suggest this may not be the case.”
Controlled Risk
Telematics information is powerful, but power can create other vulnerabilities. The data collected is also intensely personal. Consumers could, in fact, be disadvantaged if data is handled improperly or without due control resting with its subjects.
http://www.canadianunderwriter.ca/news/controlled-risk/1002551180/?h=controlled-risk&aid=1002551180
FSCO Lowers ROE Benchmark to 11%
FSCO has determined that it will now be using an 11% ROE as a benchmark for Automobile Insurance rate filings, effective immediately.
http://williehandler.blogspot.ca/2013/08/fsco-lowers-roe-benchmark-to-11.html
FAIR letter to the College of Physicians And Surgeons of Ontario regarding the harm to MVA victims
Consumer and patient complaints about IME physicians isn’t useful or transparent when complaints are often disposed of with confidential oral, written, remedial cautions that are not part of the public record. The lack of information about these cautions is putting vulnerable and often cognitively impaired auto accident victims at risk. The public is never told about prior complaints about IME providers and it’s recently come to light that the CPSO isn’t reviewing their own past decisions about member doctors while investigating subsequent complaints. Vendors of medical opinions are assured that they are able to abuse accident victims with impunity when the College fails to follow the regulations that obligate them to consider a member’s prior complaints.
Ontario government releases key points for reducing auto insurance
These ill-conceived changes that favor insurers have created a download to the taxpayer and a backlog within our court systems. That ensures that those injured in an auto accident in Ontario have less access to necessary treatment and a long wait for justice in a province that puts the interests of big business ahead of the interests of taxpayers.
Ontario government will mandate 15% reduction in auto premiums within 2 years
IBAO CEO Randy Carroll in a press release on Friday. “There is an inherent risk that the result of today’s announcement could result in future availability and affordability concerns for consumers in this province. Regardless of the type of business that you are running, you cannot reduce revenue without implementing cost reduction measures and expect to succeed, it just doesn’t work.”
http://www.citopbroker.com/news/ontario-government-will-mandate-15-reduction-in-auto-premiums-5622
Income replacement should go with driver
Ontario’s car insurance system needs further reforms. Young males under the age of 25 should have the same premiums for any car. Income replacement should go with the driver, not with the car.
http://www.thespec.com/opinion-story/4048492-income-replacement-should-go-with-driver/
Mixed reviews for plan to reduce auto insurance premiums
Ontario’s insurance coverage has been slashed in the name of savings, not for consumers but for insurers. Coverage for most injuries has been reduced from $100,000 to $3,500 in order to make more profits for insurers who are already turning down half of all claims and clogging up our courts.
http://blogs.windsorstar.com/2013/08/23/mixed-reviews-for-plan-to-reduce-auto-insurance-premiums/