Aviva Canada welcomes Ontario auto reforms
Aviva Canada welcomes Ontario auto reforms | Insurance Business Canada
Motor & Fleet
Aviva Canada welcomes Ontario auto reforms
The plans have been called “a good start”
Motor & Fleet
By
Terry Gangcuangco
Aviva Canada has welcomed reforms to Ontario’s auto insurance that aim to make coverage more affordable for drivers.
Aviva Canada personal lines managing director Susan Penwarden commented: “The Ontario Budget is a good start towards giving drivers more control over their auto insurance by selecting coverage that best suits them.
In its latest budget, the Ontario government has said it is striving to “make auto insurance work” for its people.
“In alignment with previous Budget commitments, the government will move forward with auto insurance reforms that would empower Ontario drivers with more affordable options, improved access to benefits and create a more modern system,” reads part of 2024 Ontario Budget: Building a Better Ontario.
“Implementation of the proposed changes will be done in a way to help ensure that drivers are able to make informed decisions when choosing insurance coverage options available to them.
“Mandatory auto insurance accident benefit coverage will continue to apply to medical, rehabilitation, and attendant care benefits, while all other benefits would become optional. This would provide drivers with an opportunity to lower their premiums by taking advantage of a wider range of coverage options to meet their needs.”
For instance, those who already have access to certain benefits via their workplace benefit plans should be able to opt out of the same coverage within their auto insurance.
The government’s plan also includes making auto insurance pay for medical and rehabilitation benefits in the event of an accident before extended healthcare plans do.
Among its initiatives, the province continues to work with the Financial Services Regulatory Authority of Ontario to identify further opportunities for innovation, competition, and cost reductions.
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