An interesting article has been posted today as a featured story by The Toronto Star about the profitability of Ontario Insurance companies. Business Professor Fred Lazar updated his research and concludes that despite 17 cuts to the Ontario Insurance Product from 2010 to 2018, premiums are not going down. Worse, the report finds that excessive Ontario auto insurance premiums are being used to subsidize the insurance industry across the entire country. Professor Lazar finds that the industry was only “marginally profitable” across the rest of Canada and is being propped up by Ontario auto insurance.
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