Rich pay less for car insurance, Horwath says
Drivers in poor neighbourhoods pay far more for auto insurance than in prosperous areas like Rosedale, NDP Leader Andrea Horwath charged Tuesday in calling for a thorough review of the system.
Party researchers using the InsuranceHotline.com website found the premiums for a 40-year-old married male driver of a Toyota Yaris, with 21 years experience and no accidents or convictions, was $1,153 in Lawrence Park and $2,517 at Jane and Finch with Desjardins General Insurance, for example.
“It’s the neighbourhoods where there’s lots of newcomers . . . where there’s lower incomes,” said Horwath, stopping short of accusing insurance companies of discrimination.
“I’m not going to accuse outright the insurance companies of that kind of behaviour but I think what this unveils is a real worry about what exactly it is that they’re basing their rates on.”
“The only thing that changed was the address . . . it’s pretty clear the deck is stacked against us,” Horwath told a news conference, calling the dramatic difference in premiums “highway robbery.”
“This cries out for a real review and a real overhaul.”
The difference in rates can be due to a number of factors, including local accident and damage rates, said Steve Kee, media relations manager for the Insurance Bureau of Canada, denying any discrimination.
“It’s the law in Ontario that you can’t set rates based on race, religion, income or home ownership,” Kee added.
“Insurance is a competitive industry. My suggestion to people is to shop around” because different companies may have different claims experience in different areas.
The NDP’s concern over insurance rates follows last week’s report by Ontario Auditor General Jim McCarter, who sounded an alarm after finding the province has the highest premiums in the country despite having the lowest per capita accident rate.
Car Insurance Desjardin - News
Drivers in poor neighbourhoods pay far more for auto insurance than in prosperous areas like Rosedale, NDP Leader Andrea Horwath charged Tuesday in calling for a thorough review of the system. Party researchers using the InsuranceHotline.com website
The list comprises car insurance, renewable energy initiatives, hydro's stranded debt, forest regeneration, physician compensation, legal aid, Children's Lawyer, Trillium Foundation, education and social services. But one has only to consider the
Swedish car safety equipment supplier Autoliv Inc. (ALV, $52.37, -$1.76, -3.25%) said Monday the chairman of its board, Lars Westerberg, has decided to resign after almost 13 years with the company. JP Morgan raised its stock-investment rating on Bally
Marie-Claude Boisvert has held both her current positions since 2009 and oversees several funds, including the Capital régional et coopératif Desjardins fund, a public fund with an authorized capitalization of $1.25 billion.
Swedish car safety equipment supplier Autoliv Inc. (ALV, $51.78, -$2.35, -4.34%) said Monday the chairman of its board, Lars Westerberg, has decided to resign after almost 13 years with the company. JP Morgan raised its stock-investment rating on Bally
Automobile Insurance Rates | Desjardins Group Posts Strong ...
Total income was up 16 %, properties grew 6% and the capitalization proportion waste a of the most appropriate in Canada
LVIS, QC, Nov. 10, 2011 /CNW Telbec/ – Highlights
Ranked 20th amid the World’s 50 Safest Banks 2011 by Global Finance , a New York-based publication (ranked 25th in 2010) .
Desjardins declared by Mediacorp Canada Inc. as a of Canada’s Top 100 Employers.
Disnat, a auxiliary of Desjardins Securities, ranked top amid Canadian bonus brokers by J.D. Power and Associates for financier satisfaction.
Surplus gain of $445 million is to third entertain of 2011, up 3.0% from same time in 2010.
Giving a complete of $77 million back to members and the community, inclusive the ability for associate dividends, donations, sponsorships and bursaries.
Supporting local and informal businesses together with assorted residents organizations, a protest of the caisses’ continuing appearance to the physical nature of local communities.
Total income up 16.0% and a 6.0% enlarge in properties given the commencement of the year, due to a $4.4billion enlarge in the loan portfolio.
Tier 1 funds proportion of 17.0% as at September 30, 2011 , demonstrating the institution’s financial strength.
Implementation of an general bonds distribution module at Capital Desjardins, that will give the Group access to American and European markets.
Signing of a team-work consent with Crdit Mutuel, a first-rate credit association in France, to be able to go on carrying out assorted innovative business initiatives is to benefit of members of both groups.
Acquisition of the credit card portfolio of the Canadian network of Staples/Bureau en Gros stores.
Key Financial Data
Results is to third entertain of 2011
For the third entertain finished September 30, 2011 , Desjardins Group (www.desjardins.com), the heading mild financial organisation in Canada, posted excess gain before associate dividends of $445million, compared to $432million a year earlier, a 3.0% increase. Return on equity was 13.5% compared to 14.6% in the same entertain of 2010. An amount of $77million was returned to members and the community, compared to $83million in the same entertain of 2010; this includes donations, sponsorships and bursaries, together with a $60million ability for associate dividends, that was identical to the amount posted a year earlier.
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