The Insurance Brokers Association of Ontario (IBAO) and brokers across the province support and commend today’s announcement that electronic proof of insurance is now legal in Ontario. Starting today, consumers can display their proof of insurance using their mobile device, with the choice of presenting their paper pink slip for those who want to continue that option.
“Electronic proof of insurance is a great step forward for Ontario consumers,” said IBAO CEO Colin Simpson. “We’ve been working with the Ontario Government, the Ministry of Finance and the newly formed regulator—the Financial Services Regulatory Authority—to make this happen, and we’re pleased to join Alberta, Nova Scotia, Newfoundland and Labrador in legalizing digital pink slips.”
The Government has built in a one-year transition period for insurance companies to continue providing policyholders with paper proof of insurance regardless of whether they choose to leverage it electronically.
“With any change, including a positive change like this one, people have questions,” said IBAO President Jeff Gatcke. “That’s one of the biggest benefits of using a broker—the expert advice and guidance we can provide.”