“Unacceptable,” NDP forwards solutions to stop price gouging, unfair practices following damning auto insurance investigation

QUEEN’S PARK – This week, the Financial Services Regulatory Authority of Ontario (FSRA) reported ongoing cases of systemic fair access violations from every major auto insurance company that made it harder for consumers to get quotes and affordable policies.

Ontario NDP critic for Consumer Protection and Auto Insurance Tom Rakocevic (Humber River – Black Creek) renewed his call for a consumer watchdog following this investigation to ensure Ontarians are no longer left paying some of the highest auto insurance rates in the country due to price gouging, postal code discrimination and unfair business practices by private corporations.

“These blatantly anti-competitive and harmful practices from Ontario’s major insurance companies are unacceptable. Ontarians deserve to have access to fair and affordable insurance policies to keep themselves and others protected,” said Rakocevic. “The FSRA report revealed that insurers engaged in unfair practices that punished consumers who were simply trying to shop around for the best possible quote.”

Over the past year, Rakocevic introduced legislation to establish a consumer watchdog in Ontario and put an end to price-gouging and postal code discrimination in auto insurance.

“The skyrocketing cost of living has already pushed many Ontarians to the brink. Now more than ever, Ontarians need a government that will protect them in the face of predatory and harmful business practices. Meaningful action from the Ford Conservatives on auto insurance is long overdue. This damning report only adds to that urgency.”