OTLA Report concludes Ontario Car Insurance Rates Are Excessive, Company Profits Soar

April 14, 2015, Kitchener, Ontario

Posted by: Robert Deutschmann, Personal Injury Lawyer

A widely reported Ontario study has concluded that Ontario drivers pay excessive car insurance rates while insurance company profits continue to soar. The OTLA was openly critical of the rates paid by drivers and called for immediate reduction of rates while continuing coverage levels at the current rate.

The study conducted in 2013 showed that Ontario consumers overpaid by $840 M in that year alone. It was also critical of the level of profits allowed for insurance companies by the province. The OTLA meanwhile, recommends the Ontario Auditor General conduct a fully independent review of the Ontario car insurance business.

The abuse of injured persons by insurance companies must end. It is estimated that 50 cents of every dollar of treatment spent by insurance companies goes to assessment to deny legitimate claims.

We are required by law to purchase insurance. Insurers should be required by law to provide fair pricing, fair compensation for injuries, and fair treatment of their customers.

 

Posted under Personal Injury, Car Accidents, Spinal Cord Injury, Treatment

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About Deutschmann Law

Deutschmann Law serves South-Western Ontario with offices in Kitchener-Waterloo, Cambridge, Woodstock, Brantford, Stratford and Ayr. The law practice of Robert Deutschmann focuses almost exclusively in personal injury and disability insurance matters. For more information, please visit www.deutschmannlaw.com or call us toll-free at 1-866-414-4878.

The opinions expressed here, while intended to provide useful information, should not be interpreted as legal recommendations or advice.

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