So the Ontario government can just reduce insurance premiums by 15% overnight?

[alexd]

Just like that. Amazing. What about reducing premiums by 20 or 30%? Or how about forcing the insurance companies to rebate everyone for the years of price gouging?

 

[Hi i'm God]

Do something good and still bitch?

 

[praktik]

alexd is just getting more crotchety with age. Its a direct correlation that applies to all of us.

 

[alexd]

Maybe I am, but I am always suspicious when the price of anything drops suddenly like that and it not even a 'sale'. To me it shows that the prices were inflated that much or more to begin with.

 

[blueshrike]

well its not going to be overnight. in fact they don't know when its going to happen. and on top of that they will be adding new regulation and oversight of both the insurance industry and the health and other practitioners who bill insurers. So basically everyone's taxes will go up so that drivers get cheaper insurance. I am also going to guess that this will make it more difficult for everyone to make a claim.

Since I am a driver, this will probably be a net benefit to me. Not sure how fair it is to non-drivers. But perhaps with the rampant fraud that we apparently have in Ontario, this is something that just needs to happen.

Budget to set target of 15% drop in auto insurance rates - Wheels.ca Wheels.ca