本文发表在 rolia.net 枫下论坛Ontario automobile insurance rate change
Dear Members,
At the request of some members, we have manged to obtain some information about Ontario automobile insurance rate change from Meloche Monnex Inc., the group insurance broker that handles many of our members' auto and home insurance policies.
In MMI's Rate Review 2002, it states that " In the last five years, the claim cost in Ontario has been continuously increasing. As a consequence, underwriting results for Meloche Monnex and the industry are consistently worsening." The situation was especially aggravated by the event on September 11, 2001. In order to respond to these deteriorating results, the entire insurance industry had to undertake serious reviews of automobile rates and without exception, all insurance companies have increased their premiums.
Like other companies, MMI proposed to the Ontario Insurance Commission increases in rates for the coverage of Third Party Liability and Accident Benefits. The rates for covering Collision and Comprehensive remain unchanged. These proposals have been approved and now in effect.
The degree of increase for most clients will be between 10% and 20%. But all people are not impacted equally. Some will still see their rates decrease, others remain relatively the same, still others experience a slight to medium increase, the rest a large increase by around 20%. However, the maximum increase should not exceed 25%, provided there has been no accident or other changes, such as work or home address, in the past year. If your increase quoted in your renewal letter is higher than 25%, you might want to call MMI and politely ask for the basis of such an increase. If you are not satisfied with the answer by the Call Centre staff, you can politely ask to speak to their supervisor. and the matter should be resolved there. As a principle, CPAC does not get involved in specific policies, as it is a private matter which should be resolved between the insurer and the insured only.
We hope the above information is helpful.
CPAC更多精彩文章及讨论，请光临枫下论坛 rolia.net
Dear Members,
At the request of some members, we have manged to obtain some information about Ontario automobile insurance rate change from Meloche Monnex Inc., the group insurance broker that handles many of our members' auto and home insurance policies.
In MMI's Rate Review 2002, it states that " In the last five years, the claim cost in Ontario has been continuously increasing. As a consequence, underwriting results for Meloche Monnex and the industry are consistently worsening." The situation was especially aggravated by the event on September 11, 2001. In order to respond to these deteriorating results, the entire insurance industry had to undertake serious reviews of automobile rates and without exception, all insurance companies have increased their premiums.
Like other companies, MMI proposed to the Ontario Insurance Commission increases in rates for the coverage of Third Party Liability and Accident Benefits. The rates for covering Collision and Comprehensive remain unchanged. These proposals have been approved and now in effect.
The degree of increase for most clients will be between 10% and 20%. But all people are not impacted equally. Some will still see their rates decrease, others remain relatively the same, still others experience a slight to medium increase, the rest a large increase by around 20%. However, the maximum increase should not exceed 25%, provided there has been no accident or other changes, such as work or home address, in the past year. If your increase quoted in your renewal letter is higher than 25%, you might want to call MMI and politely ask for the basis of such an increase. If you are not satisfied with the answer by the Call Centre staff, you can politely ask to speak to their supervisor. and the matter should be resolved there. As a principle, CPAC does not get involved in specific policies, as it is a private matter which should be resolved between the insurer and the insured only.
We hope the above information is helpful.
CPAC更多精彩文章及讨论，请光临枫下论坛 rolia.net