I recently had the opportunity to attend a town hall in Brampton hosted by Jeff Yurek. I wanted to share his position on Ontario auto insurance with some people in the brokerage world, but couldn’t find it online. So, here it is! Please note that this is my personal blog, and as such contains a lot of random, humorous posts. This site is not at all affiliated with McClelland Insurance; a proper insurance blog is in the works and will be launching towards the end of the year.
Ontario PC Caucus Auto Insurance
FOR IMMEDIATE RELEASE: July 10, 2012
Ontario PC MPP Jeff Yurek has spent the last 8 months as Auto Insurance Critic actively consulting with stakeholders and community members about Ontario’s auto insurance system. This is part of the Ontario PC Caucus’s grassroots initiative to bring forward bold and new auto insurance policy reform ideas. Dalton McGuinty and the Liberals continue to deny problems exist in the auto
insurance system. The Ontario PC Caucus on the other hand acknowledges that auto insurance is a key issue that demands immediate action. The Ontario PC Caucus looks forward to the input from the community in their effort to provide Ontarians with an auto insurance product that is affordable, transparent, and adequately covers those injured in an accident.
• Recognize that owning a car is a vital necessity and we need to ensure that premiums are fair and reasonable so that everyone can afford it.
• Ensure people have access to the coverage they need if they find themselves injured from an accident.
• Ensure that access to medical benefits is prompt and timely; medical rehabilitation is most effective when conducted immediately following an accident.
Suggested Policy Ideas:
1. Eliminate FSCO Red Tape
• Red Tape and bureaucracy cost the system money which pushes premiums up.
• With 60 companies providing auto insurance, the Ontario PC Caucus wants to streamline processes at FSCO to make the industry more competitive which will in turn lower auto insurance rates.
2. Reduce Mediation/Arbitration Backlog
• Currently, there’s backlog of 30,000 cases in mediation and arbitration.
This backlog adds costs to the system and prevents people from getting the timely medical services they need.
• The Ontario PC Caucus will look at ways to reform the mediation and arbitration system, costing the system less and allowing people to access their insurance benefits in a timely manner.
3. Increase Transparency
• Auto Insurance customers deserve to know the details about their policy and how their rates are established.
• The Ontario PC Caucus will look for ways to make the system more transparent, giving the insured in depth details regarding their policy.
4. Tackle Fraud
• Auto insurance fraud costs the system $1.3 billion each year. This accounts for 15 cents of every dollar in premium paid going to fraud costs.
• The Ontario PC Caucus will establish a special unit of the Crown Attorney’s office to investigate and prosecute fraud cases. This will bring down costs in the long-term.
For further inquiries, contact Jeff Yurek’s office at:
P: 416-325-39651 E: email@example.com