A NEW proposal by the Ontario government to make almost all auto insurance accident insurance coverages optional is causing some concern.
Enrico Mastrangeli, distribution VP at Commonwell Mutual, warned at the recent Insurance Brokers Association of Ontario convention that while the province’s move is aimed at lowering premiums, it could unintentionally increase costs and create complexities for brokers.
“Brokers will need to discuss collateral benefits with clients, which could change if a client switches jobs or loses benefits,” he said during the event in Toronto, which had record attendance of more than 3,000 delegates.