Last week CUPE Newfoundland and Labrador participated in Phase 2 of a comprehensive review of the province’s automobile insurance system that has been undertaken by the provincial Public Utilities Board.
In our submissions, we argue that premiums for automobile insurance in Newfoundland and Labrador are among the highest in the country, coming in juts behind the province of Ontario. Our government requires drivers to purchase automobile insurance. The government must make sure consumers are not gouged and benefits are fair.
Related letter:
Letter: Taking the wheel to fix auto insurance in N.L.
A small number of companies have a stranglehold on the automobile (insurance) market in this province, giving them a monopoly and leading to higher rates and reduced benefits. Long-established public automobile insurance companies in British Columbia, Quebec, Manitoba and Saskatchewan offer good insurance products at lower premiums and generate capital to reinvest in their respective provinces.
There are examples in other jurisdictions to help create a “made-in-Newfoundland” full-service system that will meet the vehicle insurance needs of all people in our province.
CUPE NL supports the development of a publicly owned, full-service, non-profit automobile insurance system to deliver comprehensive no-fault insurance to all licensed drivers in the province, including private passenger drivers, independent commercial owner-operators and fleet company drivers (such as trucking, courier and taxi companies) at fiar, non-discriminator rates.
CUPE’s full submission can be read online at https://nl.cupe.ca/2018/04/11submission-automobile-insurance-review.
Wayne Lucas,
President, CUPE NL
