Young drivers and taxi fleet drivers in Ontario are among those hardest hit by greedy auto insurance companies. Instead of paying premiums based on their records, these drivers pay the highest premiums in the province.
The insurance companies write their own ticket in Ontario. Their 2012 profits of $4.4 billion (up 24% from 2011) are testament to their greed.
No fault insurance, brought in by the Ontario Liberals in 2010 to bring down sky‑high premiums affecting all drivers, slashed benefits in half, while reducing premiums by a fraction. Accident victims are paying the highest price, with many forced to sue their own insurers for the benefits they need and thought they had. (more…)