Government Responds to Report on Auto Insurance
ENVIRONMENT/LABOUR--Government Responds to Report on Auto Insurance
Environment and Labour Minister Ron Russell announced today, June 4, that government has accepted all of the recommendations in an interim report on auto insurance, released this morning by consumer advocate George Jordan.
The minister said government plans to incorporate the recommendations into its own insurance plan, which will be released shortly. "This government is concerned about the effect of rising auto insurance rates, especially on seniors and working families. The interim report is very helpful and these recommendations are an important step as we prepare our plan for Nova Scotians."
Mr. Russell said Nova Scotians were loud and clear in wanting changes around things like rules and disclosure. "We agree that there must be much stronger rules to ensure consumer protection."
He said the goal of the government plan is an effective reduction in rates for Nova Scotians.
"We've already passed changes to the current legislation that will allow us to make regulatory changes. Completing this work will be a priority for the government over the next few weeks," said Mr. Russell.
The government plans to introduce amendments to the Insurance Act in the legislature this fall. It will be the most comprehensive amendment to the Act since 1995.
FOR BROADCAST USE:
Government has accepted all of the recommendations on auto insurance made by the consumer advocate in a report today (June 4th).
Environment and Labour Minister Ron Russell says the recommendations are an important step in implementing an appropriate solution for the issue of rising auto insurance premiums.
Mr. Russell says more details will be available sometime in the next few weeks, when the government releases its insurance plan.
kjd June 4, 2003 2:18 P.M.