Profit from Auto Insurance in Ontario Canada: Have People Overpaid?
In the 1980s, provincial governments across Canada saw auto insurance premiums balloon and insurance company profits soar. In response, several provinces closed the private auto insurance market, opting to set up a public provincial monopoly that ran with a not-for-profit mandate. Other provinces, like Ontario, instead opted for a model of government oversight and regulation, where private companies were required to apply to a provincial regulator to raise or lower their premiums. We analyse approved applications for premium rate changes in Ontario from 1999 to 2022 to understand the implication of this oversight, and if profits in the Ontario auto insurance industry were indeed controlled.
Date:
25 November 2022, 15:15
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Skills Lab or https://zoom.us/j/97316381707?pwd=WDdBVlJVVU1Ga3JnRW15c0RnNlE5QT09
Speaker:
Andrew Paulley (University of Oxford)
Organising department:
Department of Economics
Part of:
Novel Ideas: MPhil Seminar Series
Booking required?:
Not required
Audience:
Members of the University only
Editor:
Emma Heritage
