Ontario Auto Insurers Achieve 85% Satisfaction Rate

TORONTO, Nov. 15 /CNW/ – Results are in from the annual Claims Satisfaction Survey issued by the
Financial Services Commission of Ontario (FSCO), and according to the final tallies, 85
percent of auto insurance consumers are consistently satisfied with their insurer. The
survey demonstrates that the more than 150 companies providing auto insurance in Ontario
are doing an excellent job of dealing with the thousands of auto insurance claims made each year.

In addition to demonstrating widespread satisfaction, the
survey results help consumers make an informed choice when they are shopping for auto
insurance. The annual survey provides people with additional information about auto
insurance companies and helps insurers improve the claims services they offer.

“The industry scored the same high satisfaction rate
as recorded in last year’s survey, ” says Mark Yakabuski, Vice President, Ontario
Division, Insurance Bureau of Canada.

“A satisfaction rate of 85% is remarkable given that
claims are usually made in very stressful circumstances where policyholders have sustained
significant losses.”

Mr. Yakabuski suggests the industry has done an excellent
job to maintain such a high satisfaction rate, despite sharply rising claims costs
associated with health care and vehicle repairs in recent years.

Market research firms chose a random sample from the claims
files which insurance companies closed in 2000. The minimum sample size for companies with
18,000 or more closed claims in 2000 was 800.

The Insurance Bureau of Canada is the national trade
association of the private property and casualty insurance industry. It represents about
200 companies that provide more than 90 per cent of the non-government home, car and
business insurance in Canada. Visit the media section of the bureau’s Web site at
www.ibc.ca for more news releases and information.

For further IBC information: Mary Devorski – (416) 362-2031 ext. 351

The FSCO report is available online at
– click the insurance tab on the left navigation bar, select auto insurance,
then select “Claims Satisfaction Survey – 2001” in the body. Most Insurance companies
writing auto insurance in Ontario are listed, in alphabetical order. Companies too small,
or with few closed claims in 2000 are not included. For each company, using a bar chart,
the percentage of customers surveyed who were “completely satisfied” is shown, as is the percentage
“somewhat satisfied”. Separately a “total satisfied” is numerically noted.