GUELPH, ON, Sept. 12, 2012 /CNW/ - Co-operators General Insurance
Company has introduced another overall reduction in auto insurance
premiums for its clients in Ontario. During 2012, the company has
reduced its overall premiums for private passenger vehicles in the
province by 9.9 per cent.
Over the past two years, the Ontario government has been introducing
changes aimed at controlling auto insurance costs, particularly those
related to Statutory Accident Benefits, and the impact of fraud.
Accident Benefits are provided when someone is injured in a car
accident, regardless of fault. They cover such things as medical and
rehabilitation assessments and treatment, attendant care, caregiver and
housekeeping benefits, and income replacement. The largest rate
reductions The Co-operators has introduced in Ontario have been related
to Accident Benefits.
"As efforts to control claims costs produce results, we are very pleased
to pass savings on to our clients," said Kathy Bardswick, President and
CEO of The Co-operators. "Drivers in Ontario have many options when it
comes to insurance. It's a good idea to check with your advisor to make
sure you're comfortable with your coverage options and deductibles, and
that you're getting any discounts you're eligible for."
In September, 2010, the Ontario government introduced a series of
changes designed to control costs while ensuring that motorists remain
adequately protected. To address the serious problem of fraud,
particularly in the Greater Toronto Area, it announced a new Auto
Insurance Anti-Fraud Task Force in the 2011 Ontario Budget. The task
force's final report is expected in the fall of 2012.
The Financial Services Commission of Ontario reviews filings from auto
insurance companies operating in the province to ensure that their
proposed rates are justified, based on their claims experience and
other costs. Every three months, it publishes each company's rate
changes on its website: www.fsco.gov.on.ca/en/auto.rates.
The impact of the rate changes introduced by The Co-operators will vary
from one driver to another depending on a number of factors, including
their location and the type of vehicle.
About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with
more than $36 billion in assets under administration. Through its group
of companies it offers home, auto, life, group, travel, commercial and
farm insurance, as well as investment products. The Co-operators is
well known for its community involvement and its commitment to
sustainability. The Co-operators is listed among the 50 Best Employers
in Canada and Corporate Knights' Best 50 Corporate Citizens in Canada.
As a proud member and supporter of the co-operative sector, The
Co-operators is pleased to celebrate 2012: The International Year of
Co-operatives. For more information visit www.cooperators.ca.
SOURCE: The Co-operators
For further information: