CAA supports government initiative to reduce rates
Thornhill, ON (Aug. 29, 2013) – CAA is more committed than ever to help reduce insurance premiums for Ontario motorists.
CAA Insurance Company (Ontario) has applied for a rate reduction with Financial Services Commission of Ontario (FSCO) to help keep its auto insurance costs down for good drivers.
The announcement comes after a new provincial government Auto Insurance Cost and Rate Reduction Strategy was unveiled in early August.
CAA fully supports this new strategy, which targets a 15 per cent auto insurance decrease over the next two years for many Ontarians. These savings will be made possible through a number of proposed cost saving measures including a continued attempt to limit the amount of insurance fraud and the introduction of new technology like telematics.
“We applaud the provincial government on this initiative and look forward to working collaboratively with them to help bring some relief to the pocket books of Ontario’s motorists. We share the same vision of the government to help keep insurance costs manageable for everyone,” said Matthew Turack, Vice-President, CAA Insurance Company (Ontario).
Currently, Ontario has the highest auto insurance rates in Canada. Bringing those rates down by reducing fraud and unnecessary industry costs will save millions in payouts and help control premiums.
“With our proposed rate reduction, work to eliminate insurance fraud and the introduction of new technologies, we hope we can lead by example and pass the benefits on to those drivers of good standing,” added Turack.
CAA looks forward to continuing to lead the conversation around more affordable auto insurance rates for motorists with all stakeholders. We are also eager to work with the government to help regulate costs associated with the towing industry, while ensuring there is sufficient consumer protection and an enhancement of safety for tow truck drivers and motorists alike.
CAA South Central Ontario offers a variety of services including roadside assistance, automotive care, travel and insurance. There are more than 1.9 million CAA members in South Central Ontario and over 5.9 million members in Canada. We’re more than Roadside Assistance. We’re Life-side Assistance.
About CAA South Central Ontario
CAA SCO is a not-for-profit auto club offering insurance, travel, automotive care and roadside services. There are more than 1.9 million CAA members in South Central Ontario and over 5.6 million members in Canada. We’re more than Roadside Assistance. We’re Life-side Assistance. Visit www.caasco.com.
SOURCE: CAA South Central Ontario