Ontario Government Seeking Input on Auto Insurance Reform

In a recent news release, the Ontario government announced it is seeking input from drivers and consumers on how to lower the province’s auto insurance rates in what’s being called the Putting Drivers First consultation. Input, which can be provided here through Feb. 15, 2019, will be used by officials in an attempt to get auto insurance costs under control in Ontario.

As it stands, auto insurance rates in Ontario are among the highest in the country. There are nearly 10 million drivers in Ontario, and all drivers are required by law to have auto insurance. By lowering rates, the government hopes to put more money back into the pockets of taxpayers.

The government has said the consultation is another step toward modernizing the auto insurance system and cutting red tape. In addition to meeting with and listening to stakeholders, Ontario is:

  • Working on legislation that, if passed, would eliminate the unfair practice of discriminating against drivers simply based on where they live
  • Creating a modern, regulatory framework that allows for electronic proof of auto insurance and other communications
  • Moving toward full electronic commerce, similar to what is provided by banks and credit unions today

All input gathered via the consultation will coincide with a larger review of Ontario’s auto insurance rate regulation system conducted by the Ministry of Finance and the Financial Services Regulatory Authority of Ontario. The wholesale review will examine practices in other jurisdictions, identify opportunities to achieve greater efficiencies and introduce more competition in the system.

To learn more about the consultation, read the government’s official release here.

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