Business and Economy
Insurance Bureau of Canada (IBC) Congratulates Ontario Government on Announcement to Increase Oversight of Towing Industry
The task force will review a number of topics related to the towing industry, which could include provincial oversight of safety, consumer protection, improved industry standards, training and background checks. (Pexels Photo)
(TORONTO) – Today, the Ontario government announced the creation of a new task force to improve provincial oversight of the towing industry. The task force will help develop a regulatory model to increase safety and enforcement, clarify protections for consumers and improve towing industry standards. It will also consider tougher penalties for offenders.
“IBC applauds the Ontario government for taking action against criminal activity and violence in the towing industry,” said Kim Donaldson, Vice-President, Ontario, IBC. “Insurance fraud is a safety issue for consumers. Lives can be put at risk as a result of these criminal actions. Insurance fraud costs Canadians in higher insurance premiums, and strains our already burdened health care services, emergency services and court systems,” added Donaldson.
The task force will review a number of topics related to the towing industry, which could include provincial oversight of safety, consumer protection, improved industry standards, training and background checks.
As part of the review, the task force may consider opportunities for increased protections for consumers against the first-to-scene unethical business practices that lead to accident chasing, insurance savings through a crackdown on insurance fraud rings, and improved consumer choice for payments and repairs. The province is also reviewing ways to clear accidents faster from roadside, which would minimize lane reductions and reduce congestion on Ontario highways.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 128,000 Canadians, pays $9.4 billion in taxes and has a total premium base of $59.6 billion.
For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on Twitter @IBC_Ontario or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.
