An open letter to the Insurance Bureau of Canada from Ontario New Democrats

TORONTO, Feb. 10, 2013 /CNW/ – Yesterday, the Insurance Bureau of Canada purchased advertising space to run an open letter from their Vice-President Ralph Palumbo to NDP Leader Andrea Horwath. Below is a response from NDP MPP and Consumer Critic Jagmeet Singh:

Dear Mr. Ralph Palumbo,

Andrea Horwath wanted me to thank you for your letter and asked that I reply on behalf of New Democrats.

I don't have to tell you that tough economic times are hitting family budgets hard. Households are squeezed more than ever and the bill for auto insurance is one people hate opening the most. So I'm happy to hear that you share our goal of making auto insurance more affordable.

But we need to see changes in the coming year. Drivers need to see real rate reductions and we're committed to delivering results for them. Changes to auto insurance since 2010 have reduced benefits for drivers, and increased profits to the industry. Yet premiums have increased. That's not acceptable.

We're ready to work with everyone who has a stake in the industry to make a sustainable affordable product. We're not willing to sit by while drivers are forced to pay more and more for auto insurance that provides less and less coverage.

We know the industry has to offer in finding solutions to these complex issues. We also understand that you have a job to do. You represent the interests of the insurance industry. We have a different role: to be a voice for Ontario drivers paying the highest premiums in Canada.

We're ready to work together to deliver on real savings for drivers starting this year.

Jagmeet Singh
NDP Critic for Consumer Services

SOURCE: NDP Caucus Services

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Media Contact: Marion Nader 416-325-2601

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