Buying Car Insurance? Service Levels Continue to Improve

TORONTO (October 11, 2000) -- Car insurance companies in Ontario continue to improve the level of service they offer to consumers, according to the Financial Services Commission of Ontario (FSCO).

Today, FSCO released the results of its 2000 Claims Satisfaction Survey. The survey results are issued annually and show that Ontario consumers continue to enjoy a high level of satisfaction with the way their claims are handled. This year, the total satisfied average, which is the percentage of consumers who were either very satisfied or somewhat satisfied with the service offered by their insurance company, is 85.7%, an increase of 1.1% over 1999's total satisfied results of 84.6%.

"Buying car insurance is a significant and mandatory investment for consumers in Ontario," said Dina Palozzi, FSCO's Chief Executive Officer and Superintendent of Financial Services. "While price is an important consideration, service is an equally important factor, and FSCO's Claims Satisfaction Survey helps consumers compare service levels offered by car insurance companies."

This is the third year for the survey, which compares the claims service offered by 49 car insurance companies and the Facility Association. The Facility Association is an insurance pool that all car insurance companies belong to. It is an insurer of last resort, and ensures car insurance is made available to high risk drivers who may otherwise find it difficult to buy car insurance. The margin of error for this year's survey is ±3.5 per cent, 19 times out of 20.

The 2000 Claims Satisfaction Survey is included in FSCO's publication entitled "Shopping for Car Insurance," which provides key information on what consumers need to know about car insurance. To get a copy of the claims survey or the "Shopping for Car Insurance" booklet, visit FSCO's website at www.fsco.gov.on.ca, or call FSCO toll-free at 1-800-668-0128 or leave a message on FSCO's Publications Line at (416) 590-7298.

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