As part of our ongoing public consumer protection campaign, the association has launched our consumer website www.SoaringInsuranceRates.ca to educate Ontarians on the use of credit scoring in home and other personal property insurance.
As our members are well aware, a growing number of insurers are using a person’s credit score to measure their insured risk which has led to an increase in insurance premiums or denial of insurance altogether.
IBAO has been working with Members of Provincial Parliament (MPP), more aggressively as of last fall, to have this practice banned in Ontario. In 2005, the provincial government banned the use of credit scoring in auto insurance policies. We are asking the MPPs to extend this ban and outlaw the practice entirely.
Our new interactive website provides consumers with background information on the issue, a press room complete with recent media clippings, an online petition and the ability to send a personalized letter directly to your MPP.
Visit www.SoaringInsuranceRates.ca , sign the petition and write to your MPP today!
You will find that it is a valuable educational resource for our consumers and Parliamentarians alike!