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Ontario passes new auto insurance legislation

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Courtesy of Toronto Sun:

The Ontario Liberal government passed new auto insurance legislation Thursday that it says will help reduce rates for consumers.

Finance Minister Charles Sousa said the bill will fight fraud within the system and lead to faster settlements of disputed claims.

“We all know that fraud and abuse exists in the auto insurance system,” Sousa said. “We’re committed to cracking down on this fraud so that more benefits go directly to the accident victims, not those who abuse the system.”

The Liberals have committed to reducing auto insurance rates by an average of 15% by August 2015, and so far have achieved an average drop of about 6%.

Bill 15 allows for the creation of a dedicated investigation and prosecution office to look at serious fraud, including automobile insurance fraud.