Toronto insurance sodomy

Well, it's finally done. The company gave me it for (U.S.$'s)
$2000/yr $172.00/month or $21 per month when the car
is stored. 2004 Mach-1.
Quite a difference from the "up to" $9,000
I was quoted by one company. This is less than half
of what I paid for the last year of my 2001 GT.
My thanks to the other Canadian poster who provided me
with the lead for the company I went with!

BTW: Before anyone sheds a tear for the insurance companies
and their "lost profits" due to the 2001 stock market downturn,
read this:
From CTV.ca

Insurance companies post $4.2 billion in profits

CTV.ca News Staff

Canada's insurance industry announced another year of astronomical
profits on Friday. New figures for 2004 from the Insurance Bureau of
Canada showed the sector made a combined net profit of $4.2 billion.

That's a record high and a 150 per cent increase, up from $2.63
billion reported this time last year.

The figures include profits for 206 auto, home and business insurance
companies operating in Canada.

IBC President Stan Griffith said Friday the 2004 figures reflect the
industry's "return to financial health" after earlier years where it
posted the weakest earnings in its history.

But already consumer watchdog groups are calling the announcement an
outrage and demanding something be done.

"This is an obscene profit," Bruce Cran, President of the Consumers'
Association of Canada, told CTV.ca.

"I think it's high time there was an open inquiry into the insurance
industry and the way governments deal with this matter," said Cran.

Griffith acknowledged that, even before this year's figures had come
out, the insurance industry was aware that, economically, the times
were good for its members.

"Last year we returned to profitability and today with some relief we
can say to policyholders, government and shareholders that the
industry is strong again."

IBC said the strong profits have allowed companies to lower auto
insurance premiums "substantially" in many jurisdictions, including
Ontario, Atlantic Canada and Quebec.

Just last month, Statistics Canada said the annual inflation rate for
December had stayed the same -- at 2.1 per cent -- and a major factor
was lower auto insurance premiums.

They rose just 1.5 per cent through 2004 compared with a 22.1 per cent
jump in 2003.

Cran pointed out that, no matter what the rates are for home, auto or
business insurance, in many cases consumers have no choice but to
purchase a policy.

"We should not forget this isn't an item you can chose to buy or not
buy," he said.

"These profits have been made on the backs of consumers."

Add in to that gas $$$ and Premier Dalton "norman bates"

Snow...

"RichA" > wrote in message
...
> Well, it's finally done. The company gave me it for (U.S.$'s)
> $2000/yr $172.00/month or $21 per month when the car
> is stored. 2004 Mach-1.
> Quite a difference from the "up to" $9,000
> I was quoted by one company. This is less than half
> of what I paid for the last year of my 2001 GT.
> My thanks to the other Canadian poster who provided me
> with the lead for the company I went with!
>
> BTW: Before anyone sheds a tear for the insurance companies
> and their "lost profits" due to the 2001 stock market downturn,
> read this:
> From CTV.ca
>
> Insurance companies post $4.2 billion in profits
>
> CTV.ca News Staff
>
> Canada's insurance industry announced another year of astronomical
> profits on Friday. New figures for 2004 from the Insurance Bureau of
> Canada showed the sector made a combined net profit of $4.2 billion.
>
> That's a record high and a 150 per cent increase, up from $2.63
> billion reported this time last year.
>
> The figures include profits for 206 auto, home and business insurance
> companies operating in Canada.
>
> IBC President Stan Griffith said Friday the 2004 figures reflect the
> industry's "return to financial health" after earlier years where it
> posted the weakest earnings in its history.
>
> But already consumer watchdog groups are calling the announcement an
> outrage and demanding something be done.
>
> "This is an obscene profit," Bruce Cran, President of the Consumers'
> Association of Canada, told CTV.ca.
>
> "I think it's high time there was an open inquiry into the insurance
> industry and the way governments deal with this matter," said Cran.
>
> Griffith acknowledged that, even before this year's figures had come
> out, the insurance industry was aware that, economically, the times
> were good for its members.
>
> "Last year we returned to profitability and today with some relief we
> can say to policyholders, government and shareholders that the
> industry is strong again."
>
> IBC said the strong profits have allowed companies to lower auto
> insurance premiums "substantially" in many jurisdictions, including
> Ontario, Atlantic Canada and Quebec.
>
> Just last month, Statistics Canada said the annual inflation rate for
> December had stayed the same -- at 2.1 per cent -- and a major factor
> was lower auto insurance premiums.
>
> They rose just 1.5 per cent through 2004 compared with a 22.1 per cent
> jump in 2003.
>
> Cran pointed out that, no matter what the rates are for home, auto or
> business insurance, in many cases consumers have no choice but to
> purchase a policy.
>
> "We should not forget this isn't an item you can chose to buy or not
> buy," he said.
>
> "These profits have been made on the backs of consumers."
>
>
>
>

I don't know about Canada, but in the US, if you look at the listing
of what companies own what companies, under the heading Insurance, you
find that there are really very few insurance companies. Even some you
would consider major independents are owned by bigger insurance
groups. I looked up a life insurance company once, and found they were
about half way down the totem pole on a list of about 100 companies
all part of the same conglomeration.

Similarly, GEICO insurance has GEICO for safe/low risk drivers, and it
has another division which handles high risk. One might take a big
loss, while the other makes a profit.

On Wed, 23 Feb 2005 12:27:39 -0500, RichA > wrote:

>Well, it's finally done. The company gave me it for (U.S.$'s)
>$2000/yr $172.00/month or $21 per month when the car
>is stored. 2004 Mach-1.
>Quite a difference from the "up to" $9,000
>I was quoted by one company. This is less than half
>of what I paid for the last year of my 2001 GT.
>My thanks to the other Canadian poster who provided me
>with the lead for the company I went with!
>
>BTW: Before anyone sheds a tear for the insurance companies
>and their "lost profits" due to the 2001 stock market downturn,
>read this:
>From CTV.ca
>
>Insurance companies post $4.2 billion in profits
>
>CTV.ca News Staff
>
>Canada's insurance industry announced another year of astronomical
>profits on Friday. New figures for 2004 from the Insurance Bureau of
>Canada showed the sector made a combined net profit of $4.2 billion.
>
>That's a record high and a 150 per cent increase, up from $2.63
>billion reported this time last year.
>
>The figures include profits for 206 auto, home and business insurance
>companies operating in Canada.
>
>IBC President Stan Griffith said Friday the 2004 figures reflect the
>industry's "return to financial health" after earlier years where it
>posted the weakest earnings in its history.
>
>But already consumer watchdog groups are calling the announcement an
>outrage and demanding something be done.
>
>"This is an obscene profit," Bruce Cran, President of the Consumers'
>Association of Canada, told CTV.ca.
>
>"I think it's high time there was an open inquiry into the insurance
>industry and the way governments deal with this matter," said Cran.
>
>Griffith acknowledged that, even before this year's figures had come
>out, the insurance industry was aware that, economically, the times
>were good for its members.
>
>"Last year we returned to profitability and today with some relief we
>can say to policyholders, government and shareholders that the
>industry is strong again."
>
>IBC said the strong profits have allowed companies to lower auto
>insurance premiums "substantially" in many jurisdictions, including
>Ontario, Atlantic Canada and Quebec.
>
>Just last month, Statistics Canada said the annual inflation rate for
>December had stayed the same -- at 2.1 per cent -- and a major factor
>was lower auto insurance premiums.
>
>They rose just 1.5 per cent through 2004 compared with a 22.1 per cent
>jump in 2003.
>
>Cran pointed out that, no matter what the rates are for home, auto or
>business insurance, in many cases consumers have no choice but to
>purchase a policy.
>
>"We should not forget this isn't an item you can chose to buy or not
>buy," he said.
>
>"These profits have been made on the backs of consumers."
>
>
>

Hey! Spikey Likes IT!
1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok
Vintage Burgundy w/Black Standard Interior
Vintage 40 Wheels 16X8"
w/BF Goodrich Comp T/A Radial 225/50ZR16

"RichA" > wrote in message
...
> Well, it's finally done. The company gave me it for (U.S.$'s)
> $2000/yr $172.00/month or $21 per month when the car
> is stored. 2004 Mach-1.
> Quite a difference from the "up to" $9,000
> I was quoted by one company. This is less than half
> of what I paid for the last year of my 2001 GT.
> My thanks to the other Canadian poster who provided me
> with the lead for the company I went with!

I'm paying about $1,000.00/yr more with the same driving record for my 04
GT. Please help a Toronto brother out and mail me the name of your
insurance company!


Gumby
'04GT

On Wed, 23 Feb 2005 14:03:19 -0800, Spike > wrote:

>I don't know about Canada, but in the US, if you look at the listing
>of what companies own what companies, under the heading Insurance, you
>find that there are really very few insurance companies. Even some you
>would consider major independents are owned by bigger insurance
>groups. I looked up a life insurance company once, and found they were
>about half way down the totem pole on a list of about 100 companies
>all part of the same conglomeration.
I do know that the only companies who can
afford property in downtown Toronto are them,
the banks and some law firms.
-Rich

Good news indeed!

One of these days we'll have to hook up for a coffee.

--
Jafo
'02 GT Black
Not eggzackly stock.

"RichA" > wrote in message
...
> Well, it's finally done. The company gave me it for (U.S.$'s)
> $2000/yr $172.00/month or $21 per month when the car
> is stored. 2004 Mach-1.
> Quite a difference from the "up to" $9,000
> I was quoted by one company. This is less than half
> of what I paid for the last year of my 2001 GT.
> My thanks to the other Canadian poster who provided me
> with the lead for the company I went with!
>

Notice how all three of those seem to go hand in hand.....
Coincidence? or X Files?

On Wed, 23 Feb 2005 19:02:58 -0500, RichA > wrote:

>On Wed, 23 Feb 2005 14:03:19 -0800, Spike > wrote:
>
>>I don't know about Canada, but in the US, if you look at the listing
>>of what companies own what companies, under the heading Insurance, you
>>find that there are really very few insurance companies. Even some you
>>would consider major independents are owned by bigger insurance
>>groups. I looked up a life insurance company once, and found they were
>>about half way down the totem pole on a list of about 100 companies
>>all part of the same conglomeration.
> I do know that the only companies who can
>afford property in downtown Toronto are them,
>the banks and some law firms.
>-Rich

Hey! Spikey Likes IT!
1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok
Vintage Burgundy w/Black Standard Interior
Vintage 40 Wheels 16X8"
w/BF Goodrich Comp T/A Radial 225/50ZR16

Spike wrote:
> I don't know about Canada, but in the US, if you look at the listing
> of what companies own what companies, under the heading Insurance, you
> find that there are really very few insurance companies. Even some you
> would consider major independents are owned by bigger insurance
> groups. I looked up a life insurance company once, and found they were
> about half way down the totem pole on a list of about 100 companies
> all part of the same conglomeration.
>
> Similarly, GEICO insurance has GEICO for safe/low risk drivers, and it
> has another division which handles high risk. One might take a big
> loss, while the other makes a profit.
>
> On Wed, 23 Feb 2005 12:27:39 -0500, RichA > wrote:
>

They all have to have some way of recouping losses from 9/11.

On Wed, 23 Feb 2005 19:58:40 -0500, "Jafo" >
wrote:

>Good news indeed!
>
>One of these days we'll have to hook up for a coffee.

Thanks again! I forgot to add one thing about
Mustangs in Toronto; If you do any mods, they'll
kill you on insurance. Even if it's something like
a better brake or handling system (something that would
theoretically make the car more safe) they nail you.
There was an article in the paper about it.
-Rich

On Thu, 24 Feb 2005 01:57:48 GMT, " >
wrote:

>Spike wrote:
>> I don't know about Canada, but in the US, if you look at the listing
>> of what companies own what companies, under the heading Insurance, you
>> find that there are really very few insurance companies. Even some you
>> would consider major independents are owned by bigger insurance
>> groups. I looked up a life insurance company once, and found they were
>> about half way down the totem pole on a list of about 100 companies
>> all part of the same conglomeration.
>>
>> Similarly, GEICO insurance has GEICO for safe/low risk drivers, and it
>> has another division which handles high risk. One might take a big
>> loss, while the other makes a profit.
>>
>> On Wed, 23 Feb 2005 12:27:39 -0500, RichA > wrote:
>>
>
> They all have to have some way of recouping losses from 9/11.

So far, the excuses have been:
-9/11
-Soft tissue injury costs (recently limited by the government, too
many people where whiling away the hours at chiropractors and physical
therapists).
-The 2001 stock market downturn.
What next, the Tsunami or red tide??
-Rich