“In 2010, this government made changes to the auto insurance system in Ontario that slashed benefits in Ontario paid out to drivers by 50% and to drivers in the GTA by 70%,” explained Singh. “Last week in committee hearings the IBC themselves admitted that these changes resulted in $2 billion in annual savings for the insurance industry. Yet in the past two years, drivers have seen their own premiums go up by 5%.”
Singh noted that on April 12, FSCO released its report on premiums for the first quarter of 2013 and once again, there is no reduction in premiums for Ontario’s 9 million drivers.
“In the upcoming budget this government has a choice. They can either choose to again support the multibillion-dollar insurance industry or they can pass on the billions of dollars in savings to drivers in Ontario,” said Singh. “Which will it be?”