More sad news from Ontari-owe. Seems Canadians love giving their money away. Ya think there will be any repercussions? Can’t imagine.
Ontario drivers may have overpaid as much as $5 billion on their auto insurance premiums over the past five years, according to a report released Tuesday by the Ontario Trial Lawyers Association.
And while claims declined, insurance company profits grew to $1.5 billion in 2016 — up nearly 60% compared to four years earlier, says the report written by professor Fred Lazar, of the York University Schulich School of Business professor Dr. Fred Lazar,
That works out to be $143 more out-of-pocket per year for auto insurance policy holders in Ontario, said the OTLA.