RSA Canada prepares marketplace in anticipation of auto reforms
TORONTO, Aug. 30 /CNW/ - The vast majority of Ontario drivers are unaware of how legislation slated to take effect in the fall can allow them to customize their auto insurance policies.
According to a recent Leger Marketing survey commissioned by RSA Canada, nearly 70 per cent of respondents in Ontario do not understand the upcoming reforms or how they will impact their auto insurance coverage.
The legislation - which will take effect September 1st, 2010 - will allow Ontario drivers to customize their auto insurance policies to meet individual needs, allowing them to improve their auto coverage and increase their options. Though premiums will remain the same, the ability to select coverage that more closely meets individual needs is now possible with this new legislation. Other benefits include a wider range of choices around medical, rehabilitation and attendant care. Home maintenance, housekeeping and caregiver coverages will also be expanded effective September 1st.
Despite these changes, only two per cent of Ontario drivers surveyed by Leger have a confident grasp of the legislation and its effect on costs. "These statistics show there is real opportunity for brokers to educate drivers on the host of improvements the auto reforms will bring," said Irene Bianchi, Vice President Claims & Corporate Services, RSA.
Bianchi strongly encourages Ontario drivers - who pay approximately 25 per cent more for auto insurance than drivers in other provinces - to contact their brokers and learn how they can take advantage of the new legislation and ensure they have adequate insurance coverage.
To ensure Ontario drivers fully understand the new legislation and ultimately benefit from the significant changes, RSA Canada hosted a series of 17 information sessions for 800 Ontario brokers to help prepare them answer their customers' questions and ultimately provide value to policyholders.
For a full list of the auto insurance reforms planned for September 1, 2010 you can visit:
About the Survey
The RSA Canada Automobile Insurance survey was conducted between June 21 and June 24, 2010 using Leger Marketing's web panel. It was completed with 1,524 Canadian adults ages 18 and over. Of these 1524 respondents, 625 resided in Ontario.
RSA Canada includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield Insurance Company and is part of RSA Insurance Group plc. RSA Canada employs approximately 3,200 people and is represented by a large network of brokers across the country. In 2009, the Canadian Group wrote $1.9bn in direct premiums with assets exceeding $5.5 billion. Internationally, RSA Insurance Group plc employs about 21,000 people and has the capability to write business in 130 countries and in 2009 its net written premiums were (pnds stlg)6.7bn. RSA is a trade name of Royal & Sun Alliance Insurance Company of Canada.
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