Canadian Underwriter

IBC calls for review of auto insurance in Newfoundland and Labrador


June 11, 2018   by Staff


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Photo copyright: 123RF.com/nito500The Insurance Bureau of Canada (IBC) is calling for a review of the auto insurance system in Newfoundland and Labrador.

In a press release issued on Monday, IBC noted that drivers in the province pay an average of 40% more for car insurance than drivers in the rest of Atlantic Canada.

IBC is calling for:

  • An auto insurance system that provides quick, medically sound rehabilitative care.
  • More choices when it comes to where drivers buy auto insurance.
  • An auto insurance industry that makes it affordable for uninsured drivers to get insured.
  • Cost-control measures to stabilize the rising average cost of auto insurance claims.

It has been 14 years since Newfoundland and Labrador’s auto insurance system was last reviewed.

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This story was originally published by Canadian Insurance Top Broker.