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Insurance Numbers Game

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Insurance Numbers Game

From Albert Conforzi's blog: The Insurance Bureau of Canada (IBC, the association that represents Canada's insurance carriers), took out a full page ad in the Toronto Star on Saturday, wherein they lined up their major talking points for the next round of insurance discussions.

By law, a 5-year review of the auto insurance system will start this year. The 2008 review resulted in the September 2010 reforms, the effects of which are still not completely understood. I blogged about the ramifications of the 2010 reforms a couple of weeks ago.

Among a number of astounding assertions, the Star ad suggested that Ontario's 2011 accident benefits claim payouts averaged $28,978, while in Alberta they were $3,568. While the figures themselves might be correct, what they do not reveal is that the Ontario figures include payouts made on claims arising from the pre-September 2010 legislative changes.

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