Changes to Insurance June 2016?

VT1100

VT1100

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Saw something Dalton Timmins posted on another thread about not wanting to go into detail about changes, but that there are changes coming in June of 2016.

Has anyone read through these changes or heard anything about them?

I read through this..... https://www.thomsonrogers.com/wp-co...Legislation-Sept-2015-REVISED-AUG-29_BTSC.pdf

Which started out like this : "Thechanges serve to defeat the very purpose of mandatory automobile insurance in Ontario "

as well as reading some of the actual changes on the FSCO website and it looks like we're all about to be royally screwed when it comes to benefits after the fact, with no mention of price reforms.

Is there anyone in the Insurance industry who'd like to elaborate?
 
Well, one good thing is that you may be able to sue your insurance company if I read it correctly.
 
An interesting read, certainly concerning, but keep in mind it was written by a pair of what appear to be ambulance chaser companies, so take it with a grain of salt - I'm sure that it's somewhat slanted accordingly.

It seems that lawsuits may be the favored way of dealing with aftermath now instead of the piecemeal of different coverages for injury, etc. This may, in some contorted fashion, reduce fraud - a lot of the fraudulent claims are done in part with shady/fraudulent "accident recovery" companies for bogus treatment, physiotherapy, etc - that's not going to be such an easy cash cow now that a lawsuit is the only way to extract serious money for that sort of thing. A reduction of insurance payout expenses for that sort of crap could theoretically have a big downward impact on our rates. I suspect that's the other side of the story that the linked document may not be mentioning.

I've decided that from an income replacement standpoint, hoping on our insurance taking care of us is a crapshoot at best, hence why we've been looking into secondary LOI coverage through our financial advisor. If something happens that's not my fault...I at least want our paycheques to continue.
 
samurai said:
Well, one good thing is that you may be able to sue your insurance company if I read it correctly.
Click to expand...

You read that wrong. They have not yet released the part of Bill 15 that takes away the right of insured persons to sue their insurance companies over denied AB.
 
Has to do with changes to your optional accident benefits that most people don't buy.

Sent from my Nexus 6P using Tapatalk
 
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