Report: Auto Insurance Customers In Ontario, Canada Overpaying By $5B

 Thursday, May 3, 2018

 Live Insurance News

Ontario, Canada auto insurance customers may have been overpaying by as much as $5 billion on their premiums. This figure accumulated over the last five years, said a new Ontario Trial Lawyers Association report. Claims continued falling as car insurance company profits grew significantly in that time. At the same time that auto insurance customer were making fewer claims, insurers were making more money. In fact, according to the report, insurer profits rose to $1.5 billion in 2016. That represented an increase of nearly 60 percent over a period of four years.
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