Insurance News - Monday, July 27, 2015

Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Monday, July 27, 2015:

• Google self-driving car accidents show why humans don’t belong behind the wheel.
• Why the difference between self-driving and autonomous vehicles really matters.
• New towing rules in the Town of Richmond Hill are working.
• It's almost August and the Ontario's rate reduction promise will not be met.
• City revenues may fall drastically when driverless cars provide fewer fines.
• How Uber is ending the dirty dealings behind Toronto's cab business.

Second Quarter Rate Filings Up 0.6 Percent

FSCO approved 30 private passenger automobile insurance rate filings during the second quarter of 2015. A total of 26 insurers submitted the filings. These 26 insurers represent 52.75 percent of the market based on premium volume. Approved rates increased on average by 0.60 percent when applied across the total market.

Rate changes since 2013 now total 6.45 percent. The government rate reduction strategy calls for a 15 percent reduction by August of this year.

Ongoing tinkering with the product is not working. It is time for the government to get away from tinkering with the system and eliminate the existing design flaws. A public debate is badly needed. See my plan for moving forward.