Minister announces Town Hall on insurance

Walter Noel, Minister of Government Services and Lands, will be hosting a Town Hall forum on insurance issues on Tuesday, February 18, 7:30 p.m. at the Holiday Inn, Portugal Cove Road, St. John�s. The forum had been planned for this month but has been rescheduled to accommodate participants who could not attend at that time.

"Adequate insurance coverage is important for all citizens. Unfortunately, costs for all types of insurance have increased significantly. They are accounting for a growing portion of household and business spending. We have to do everything we can to prevent accidents and control costs. We also have to make sure insurance is readily available and the industry operates as efficiently and competitively as possible. The forum will give the public an opportunity to make their views known and have an informed discussion with ourselves and representatives of various stakeholders," the minister said.

Minister Noel advises that the topics to be discussed will include automobile insurance reform as tabled in Bill 28, choice automobile insurance systems, homeowners insurance, particularly availability and cost of insurance in downtown St. John�s, implementation of government�s home oil storage tank regulations and its effect on insurance, and availability and cost of commercial insurance.

Participants will include representatives of insurance companies, insurance brokers, the legal profession and the business community.

Minister Noel said: "My department receives many calls from consumers concerning insurance matters. This will be a chance for people to have questions answered and make recommendations about how their needs may be better served. I encourage everyone with an interest in this important issue to attend and make their views known."

Media contact: Minister�s Office, (709) 729-4712.

2003 01 16                                       2:50 p.m.