Ontario auto insurance rate filings increase an average of 1% in 2011 Q2

Ontario auto insurance rate filings approved during 2011 Q2 – from Apr. 1, 2011 to June 30, 2011 – averaged an increase of 1%, based on the entire market, according to the Financial Services Commission of Ontario (FSCO).
For the 29.59% of the market that had rate changes approved in 2011 Q2, the average rate change was a 3.36% increase when weighted by market share.
Rate changes approved in the second quarter of 2011 become effective in the second quarter or later.
Among the 24 filings approved in 2011 Q2, only one company, The Dominion, received an approved rate decrease (-0.02%).
Tokio Marine and Nichido Fire Insurance Company, with a market share of 0.01%, and Lombard General Insurance Company of Canada, with a .94% market share, were approved for the largest rate increases for 2011 Q2 – a 14.76% increase for Tokio and a 13.63% increase for Lombard.
The Top 5 companies ranked by market share that applied for rate increases in 2011 Q2 received the following rate approvals:

1) The Dominion
Market Share (5.33%)
Rate Approval: -0.02%

2) Aviva Insurance Company of Canada
Market Share (4.65%)
Rate Approval: +0.03%

3) Allstate Insurance Company of Canada
Market Share (3.24%)
Rate Approval: +5.86%

4) Nordic Insurance Company of Canada
Market Share (3.03%)
Rate Approval: +9.70%

5) Traders General Insurance Company
Market Share (2.5%)
Rate Approval: -0.05%