A local lawyer is very concerned about a recent report that indicates soft tissue caps may help reduce costs to the insurance industry.
Steve Marshall was responding to the Cameron and Associates Report, released publicly yesterday by the PUB. The report was conducted as part of government’s ongoing auto insurance review.
Cab drivers have for some time complained that their insurance costs have increased to the point that may drive some out of the business and they’re calling for action.
The Cameron report found that soft tissue injury claims in this province attract higher claims than other jurisdictions, and that insurance claims continue to exceed the amount paid in premiums in the St. John’s taxi industry.
Marshall, with Robothan, McKay, Marshall says Cameron and Associates has a vested interest in introducing a cap.
He told Paddy Daly on the VOCM Morning Show that the insurance industry will make an even greater profit if a cap is introduced. Marshall says insurers are making over $100-million a year in profit in this province alone.
Hear the entire conversation here: