Systemic fair access violations found in Ontario auto insurance industry, regulator says

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 92%

United States News News

United States United States Latest News,United States United States Headlines

The Financial Services Regulatory Authority of Ontario says in a report that it uncovered practices that made it harder for certain types of consumers to get auto insurance quotes

Ontario auto insurers have been involved in intentional, industry-wide violations of rules around fair access to coverage, the sector’s regulator said Thursday.

“Insurers chose to engage in non-transparent and illegal practices that made it more difficult for certain types of consumers to get auto insurance quotes,” it said in the report. “We’ve identified that there were embedded non-transparent practices within all the 12 major insurers in Ontario, which meant that consumers couldn’t be confident that they were actually getting the best price available.”

The issue of screening out some customers also extended to aggregator websites, where companies set rules around approval that weren’t necessarily OK’d by the regulator. While most took action, the FSRA found two Aviva Group subsidiaries continued with non-compliant actions.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in US

United States United States Latest News, United States United States Headlines