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- IBC: money spent on assessments, too
IBC: money spent on assessments, too
- By ILS corp
- Published 05/24/2009
- ILSTV Stories
- Unrated
The Insurance Bureau of Canada is hoping to clarify the costs of auto accidents in Ontario, especially as the Ontario auto insurance system comes under fire from medical and rehab providers, among others.
IBC President and CEO Don Forgeron said that insurers’ top priority with accident victims is to get them back to health as effectively as possible.
The Bureau said that for every dollar spent on the treatment of auto collision victims, another 60 cents goes into assessments.
IBC said Ontario auto insurance is in crisis, and it is in crisis, in part, because the cost of no fault health care services has gone up more than 40 percent in the past four years, and over the past 12 months, these cost increases have been accelerating. And not enough of this is going to treatment. For every dollar spent on therapy, another 60 cents goes to providers conducting assessments.
Forgeron said that despite the alarm raised by some players in the system, the vast majority of people injured in car collisions suffer sprain and strain injuries and simple fractures. For these people, $25,000 is more than enough to restore them to full health.
IBC added that Ontario has the most generous auto insurance system in North America, and Ontario drivers pay at least 25 percent more for auto insurance than drivers elsewhere in Canada. Despite that fact, there is no evidence that accident victims in Ontario are getting any better any faster than those in other provinces. After 6 months, 80 percent of sprain and strain claims in Ontario are still open and people continue to receive treatment. In Alberta, after the same period of time, only 40 percent of similar cases remain open.
IBC President and CEO Don Forgeron said that insurers’ top priority with accident victims is to get them back to health as effectively as possible.
The Bureau said that for every dollar spent on the treatment of auto collision victims, another 60 cents goes into assessments.
IBC said Ontario auto insurance is in crisis, and it is in crisis, in part, because the cost of no fault health care services has gone up more than 40 percent in the past four years, and over the past 12 months, these cost increases have been accelerating. And not enough of this is going to treatment. For every dollar spent on therapy, another 60 cents goes to providers conducting assessments.
Forgeron said that despite the alarm raised by some players in the system, the vast majority of people injured in car collisions suffer sprain and strain injuries and simple fractures. For these people, $25,000 is more than enough to restore them to full health.
IBC added that Ontario has the most generous auto insurance system in North America, and Ontario drivers pay at least 25 percent more for auto insurance than drivers elsewhere in Canada. Despite that fact, there is no evidence that accident victims in Ontario are getting any better any faster than those in other provinces. After 6 months, 80 percent of sprain and strain claims in Ontario are still open and people continue to receive treatment. In Alberta, after the same period of time, only 40 percent of similar cases remain open.