The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter.
The budget document reaffirms the government’s commitment to creating more choice for consumers, cracking down on auto insurance fraud and ‘enhancing fairness,’ by creating new guidance on territorial rating. The budget re-introduction follows Premier Ford’s Aug. 9 Speech from the Throne.
“The most important components in this budget, from a consumer and industry perspective, is the focus on giving consumers greater choice over the coverages they purchase and placing a greater emphasis on cracking down on fraud,” IBC said in an email statement. “The industry is eager to work with [the] government on…
