JAMES DAW
Business columnist
The cost of Ontario auto insurance is continuing to rise as insurers and motorists wait for changes the government promised last November.
Twenty two insurers won approval in the final quarter of 2009 to raise their premium rates – one by a whopping average of 15 per cent starting in March.
The average of all approved changes, including one small reduction and three adjustments without an increase overall, was 4.49 per cent.
Coming on top of earlier increases approved in 2009, the Financial Services Commission of Ontario said increases will average 8.77 per cent, up from 5.59 per cent for increases approved in 2008.
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