Newspaper article The Canadian Press

Ontario Auto Insurance Rates Up Two per Cent in First Quarter 2018

Newspaper article The Canadian Press

Ontario Auto Insurance Rates Up Two per Cent in First Quarter 2018

Article excerpt

Ontario auto insurance rates up two per cent

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TORONTO - Auto insurance rates in Ontario increased in the first quarter of 2018, putting the Liberal government further away from its promise to cut rates by 15 per cent.

The numbers released Friday by the Financial Services Commission of Ontario show an average increase of just over two per cent compared to the end of 2017.

In 2013, the Liberal government promised an average decrease of 15 per cent by August of 2015, but when that self-imposed deadline passed, Premier Kathleen Wynne admitted it had been what she called a "stretch goal."

Ontario's finance ministry says the latest figures amount to nearly a 3.3 per cent average decrease in rates since August 2013.

The Progressive Conservatives slammed the rate increase Friday, saying the government has broken its promise. …

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