The Ontario Government, as part of the 2015 provincial budget, mandated changes to the Ontario Automobile Insurance product. With specific reference to the Accident Benefits section of the auto policy, specific revisions are being made to the limits available for injury sustained in an automobile accident by yourself or your passengers. You may have already received a letter sent directly from your Insurer providing an introduction to these measures.
These changes impact every auto policy in Ontario on their first renewal after June 1st, 2016.
Accident Benefits are an important part of your insurance portfolio and should be carefully thought out by all auto insurance policyholders. While full details are available in the links below, we will be also be contacting you before your policy is affected by these changes in order to outline the specific impact on your policy and present options for your consideration.
DETAILS OF 2016 CHANGES TO AUTO INSURANCE POLICY
- 2015 Ontario Budget – Auto Reforms (Insurance Bureau of Canada)
- Amendments to Automobile Insurance Legislation and Regulations (Financial Securities Commission of Ontario)
Please keep an eye out for our mailing about these changes to your policy. If you have any questions in the meantime, please feel free to give us a call at (416) 234-9980.
