Ontario auto rates fell by an average of 0.15 percent in Q4 2015: FSCO

Twenty-one insurers submitted rate filings

Auto rates in Ontario fell by an average of 0.15 percent in the fourth quarter of last year, the Financial Services Commission of Ontario reports. This compares to an average 0.5 percent decrease in the third quarter.

Both quarters saw insurers change their rates to reflect mandatory winter tire discounts.

Twenty-one insurers, representing just over half the market based on premium volume, submitted rate filings.

FSCO approved rate decreases for, among others, The Co-operators (4.97 percent), Intact (1.41 percent), Chubb (1.2 percent) and TD (8.43 percent).

Insurers approved to increase their rates include Gore Mutual (7.91 percent), Northbridge Personal Insurance (1.81 percent) and Wawanesa (4.31 percent).

 

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