The Province of Ontario announced that they are enabling auto insurance companies to provide temporary insurance premium rebates to drivers during the COVID-19 pandemic.
In a release sent out by the Province on Thursday afternoon, they explained they had amended a regulation under the Insurance Act in an effort to help ease the financial pressure residents are facing.
The news means that insurance companies will be able to provide auto insurance premium rebates to consumers for up to 12 months after the declared emergency has ended.
In a statement, Minister of Finance Rod Phillips, says that insurance companies should be providing relief that reflects the financial hardships customers are facing due to the COVID-19 outbreak.
Continuing, he points out that insurance companies had indicated the regulation preventing rebates was a barrier to them providing relief for customers and, with the barrier now gone, auto insurance companies should be able to step up and do the right thing.
