January 17, 2011 by Canadian Underwriter
Ontario’s financial regulator, the Financial Services Commission of Ontario (FSCO), approved an overall average auto insurance rate increase of 1.93% in 2010 Q4.
For the 54.15% of the market that had rate changes approved in 2010 Q4, the average rate change was an increase of 3.57% when weighted by market share.
Three insurers had rate decreases approved. They include:
The five insurers with the highest market share had the following rate changes approved:
The five largest rate changes approved by FSCO include:
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