Home Breadcrumb caret News Breadcrumb caret Industry Ontario auto rates rose throughout 2002 Private passenger auto rates rose 9.2% in the fourth quarter of 2002, says the Financial Services Commission of Ontario (FSCO), the government body that has final say in determining insurers’ rate increases. In the third quarter to end Sept, 2002, auto insurance rates climbed 8.3%, with the average price for cover by the end of […] January 31, 2003 | Last updated on October 1, 2024 1 min read Private passenger auto rates rose 9.2% in the fourth quarter of 2002, says the Financial Services Commission of Ontario (FSCO), the government body that has final say in determining insurers’ rate increases. In the third quarter to end Sept, 2002, auto insurance rates climbed 8.3%, with the average price for cover by the end of 2002 up 15.8% year-on-year. Among the highest increases for the last quarter came from Motor Insurance Co. with 17.1%, Certas Direct up 15%, State Farm with 12.3%, Royal & SunAlliance up 12.2%, and AXA and AXA Pacific rates up by 12%. Specialty auto insurer Echelon also received an approved increase of 16.7%. At the other end of the spectrum, Belair Insurance Co. received no increase for the fourth quarter while The Dominion of Canada General Insurance Co. received just 0.08%. It is worth noting that FSCO lists only the increase received, not what was requested by each company. Save Stroke 1 Print Group 8 Share LI logo
