For those keeping up on the news, the Ontario insurance industry is currently required to submit Auto Insurance (not Bike Insurance) filings to the regulator over 2013 and 2014 (in a few different waves). In short, these filings detail the actuarial calculations to arrive at the premium increases/decreases required to pay out claims. The regulator (FSCO) has a mandate to reduce the overall premium level in Ontario by an arbitrary 15% (political move); however, the decrease by company will vary based on the adequacy of their current rates.
The first wave of rate changes has been posted on the FSCO website here:
http://www.fsco.gov.on.ca/en/auto/rates/Pages/q4-2013.aspx
Note that these are AVERAGE rate changes, so depending on your risk profile, you will probably see a larger/smaller change in your rates compared to what is posted here. Also, note that these are AUTO rate changes, not motorcycle (but I'm sure that many of you have cars that you're insuring too).
Enjoy!
The first wave of rate changes has been posted on the FSCO website here:
http://www.fsco.gov.on.ca/en/auto/rates/Pages/q4-2013.aspx
Note that these are AVERAGE rate changes, so depending on your risk profile, you will probably see a larger/smaller change in your rates compared to what is posted here. Also, note that these are AUTO rate changes, not motorcycle (but I'm sure that many of you have cars that you're insuring too).
Enjoy!
