Today, the Government of Ontario released its 2024 Budget: Building a Better Ontario. Following the budget’s release, Amanda Dean, Vice-President, Ontario and Atlantic, Insurance Bureau of Canada (IBC), issued the following statement:
“IBC and its members welcome the government’s auto insurance reforms, which are a good first step in giving Ontarians more control and choice over their auto insurance coverage. We have long advocated for much-needed reforms that provide consumers with more choice and options when purchasing auto insurance.
We commend the government on the actions announced today and look forward to working with the province and other stakeholders to implement these reforms. Ontario’s property and casualty insurers look forward to exploring further opportunities to provide consumers with greater choice in the future.
In addition, we applaud the Ontario government on its strong commitment to combatting auto theft with a continued $49 million investment to support programs that combat auto theft and destabilize organized crime networks. Across Ontario, auto theft has reached a crisis level. This funding is a meaningful and positive step towards better protecting Ontarians and their families.”
