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  • Lawyers Dispute Insurance Industry Reasoning for High Rates

    Lawyers who fight insurance companies on a regular basis look forward to the provincial review of automobile insurance—especially the profitability of the industry.

    Government and the Public Utilities Board (PUB) are going to hold public hearings into why rates are so high in Newfoundland and Labrador—the highest in Atlantic Canada.

    Industry would like to see a cap on payouts for soft tissue claims, something with which lawyers disagree.

    The Insurance Bureau of Canada (Atlantic Division) says we have more accidents and claims per auto than any of the Maritime Provinces, but lawyer Brad Wicks of Roebothan McKay Marshall disputes that contention. He says statistics from the RNC show that the number of accidents has dropped by 25 per cent in the past three years.

    Industry says all their financial information is available through the PUB. The IBC says they lose, but Wicks says the companies refuse to open their books. A group of lawyers has launched a website to hear from insurance customers.

    He says they focus on underwriting income, which is a small part of the business. He looks forward to seeing them open the books for the review.

    View the campaign at www.insulttoinjury.ca

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