What’s New: In Brief (March 05, 2010)

There were approximately 20% fewer claims reported during the 2010 Winter Games than during the same time period in 2009, according to the ICBC.
The observation is based on preliminary numbers.
“We put a plan in place to deal with an anticipated increase in claims, but thanks to everyone’s smart choices we actually saw a decrease in claims,” said Ash Megalli, 2010 claims services manager at ICBC.

The Financial Services Commission of Ontario (FSCO) says it expects to be working on “additional reform measures,” even after regulations for the new auto insurance product have been implemented as of Sept.1, 2010.
“Longer-term reforms will be reviewed by a stakeholder advisory committee and will focus on continued control of medical and rehabilitation costs while making appropriate treatment available to people injured in automobile accidents,” the regulator notes in a bulletin.
The bulletin on the regulator’s site outlines the new requirements for submitting automobile insurance rate and risk classification filings made necessary by the new regulations, which come into force on Sept. 1, 2010.
To access the bulletin, and the Simplified Filing Guidelines, log on to http://www.fsco.gov.on.ca/english/pubs/bulletins/autobulletins/2010/a-02_10.asp