OTLA released an updated study by Schulich School of Business Professor Fred Lazar on auto insurance profits in Ontario. The report clearly shows the degree to which we are all paying too much and getting far too little for our premium dollar and, as we see in our practices, that victims are getting seriously shortchanged on the coverage they receive. Our excessive Ontario auto insurance premiums are being used to subsidize the insurance industry across the entire country.
2020 INSURANCE ACCOUNTABILITY REPORT
A recent report reveals that Ontario auto insurance companies are earning record profits while Ontarians have overpaid $5.6 billion in premiums.
WHAT ARE THEY HIDING?
Insurance companies don’t report all their claims costs and profits - we just have to ‘trust' them that the premiums they charge are fair.
COVID-19 PRICE GOUGING
Since the pandemic started, collisions have gone down over 56%… but premiums have gone up by $30 per policy!
HELP REBALANCE THE SYSTEM
Share your story, show your support, educate our government and spread the word! Together we can change the system so it works for consumers and accident victims - not just for insurance companies.