The Ontario government’s target of a 15% reduction in auto insurance rates is “absolutely not” doable, the Insurance Bureau of Canada’s vice president of policy development said Tuesday during the National Insurance Conference of Canada.
“Absolutely not, and I think the government fully knows that although the government has not come out and said it,” Barbara Sulzenko-Laurie said during a panel discussion when asked whether the reduction is achievable.
“But certainly in our conversations with the superintendent of insurance, he’s indicated to us that no one in FSCO believes that there’s 15% that’s in the system (to be reduced),” she said, referring to the auto insurance regulator, the Financial Services Commission of Ontario.
Harmeet Singh – Canadian Underwriter.ca – September 23, 2014.
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