- FSCO reports that first quarter 2014 rate filings decreased by an average of 5.01% for the 14 rate filings (20.22% of the market) it approved. This works out to a decrease of 1.01% for the entire Ontario market. According to my calculations, rate approvals have declined 5.57% since Rate Reduction Strategy was announced in August.
- Despite a few inaccuracies, an interesting Globe and Mail article about Ontario's dysfunctional auto insurance system. The only thing all stakeholders agree on is the system is still broken.
- The province's branding program not working because according to this news report, wrecked vehicles being resold to unsuspecting consumers.
- Here is something to be concerned, 8 out of 10 drivers incorrectly believe hands-free cellphones are safer than hand-held use.
- Insurance industry critics in the U.S. are not happy with the practice of using data mining (referred to as price optimization) to set auto insurance rates.
Thursday, 17 April 2014
Insurance News - Thursday April 17, 2014
Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Thursday April 17, 2014: