February 25, 2019
Provincial Government Releases Results of Public Consultations on Automobile Insurance
The Provincial Government conducted public consultations on automobile insurance in 2018 to complement the review received from the Board of Commissioners of Public Utilities (PUB). The results of the public consultations are now available online - www.servicenl.gov.nl.ca/insurance/pdf/What_We_Heard and outline the feedback received from the public.
The consultations were intended to explore several key areas outside the scope of the PUB’s mandate, including the automobile insurance rate setting process, encouraging increased competition in the marketplace and improving highway safety, among other issues.
A total of 181 respondents took part in the questionnaire, 94 per cent of whom identified as consumers.
Feedback from the PUB’s review and these public consultations will help inform future changes to the Automobile Insurance Act and the Insurance Companies Act with the objective of modernizing the system so the people of Newfoundland and Labrador see more benefits and better value. Changes are slated for the spring 2019 session of the House of Assembly.
“I would like to thank those who provided their ideas and opinions on automobile insurance, as well as highway safety and automotive accident prevention. Our goal is to help stabilize insurance rates and provide the best product possible for Newfoundlanders and Labradorians and I look forward to sharing our recommendations with the people of the province in the spring.”
Honourable Sherry Gambin-Walsh
Minister of Service NL>
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2018 02 25 1:00 p.m.