Ontario auto insurance rates decline by 0.18% in 2012 Q1

Ontario auto insurance rate filings approved during 2012 Q1 declined an average of 0.18%, based on the entire market.

Rate filings for the Top 5 individual companies, ranked in order of market share, are:

1) State Farm Mutual Automobile Insurance Company

Market share: 12.43%

Rate Action: Flat (0.00%)

2) Aviva Insurance Company of Canada

Market share: 4.65%

Rate Action: -0.84%

3) Co-operators General Insurance Company

Market share: 4.35%

Rate Action (Effective New Business Date and Effective Renewal Business Date of Mar. 26, 2012): -1.94%

Rate Action (Effective New Business Date and Effective Renewal Business Date of Apr.15, 2012): -4.46%

4) Wawanesa Mutual Insurance Company

Market share: 4.27%

Rate Action: Flat (0.00%)

5) Economical Mutual Insurance Company

Market share: 3.70%

Rate Action (Effective New Business Date and Effective Renewal Business Date of July 16, 2012): -0.82%

Rate Action (Effective New Business Date and Effective Renewal Business Date of July 15, 2012): +2.2%