The Superintendent of Financial Services is responsible for carrying out a review of Part VI of the Insurance Act (the Act) dealing with automobile insurance.
Part VI of the Act includes provisions that deal with the approval of forms, motor vehicle liability policies, statutory conditions, direct compensation, limitations on accident insurance, court proceedings, and dispute resolution. Some of the regulations under Part VI include: the Statutory Accident Benefits Schedule (SABS), uninsured automobile coverage, fault determination rules, disputes between insurers, and court proceedings.
The first review has been completed and the Report on the Five Year Review of Automobile Insurance has been delivered to the Minister of Finance.
Request for Submissions – June 3, 2008
Interested parties were invited to provide feedback on Ontario’s automobile insurance system. The comment period began June 3, 2008 and ended July 14, 2008. A total of 90 submissions were received.
Submissions to the Auto Insurance Five Year Review