Ontario regulator gives PACE Credit Union $500M lifeline bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
TORONTO Usage-based insurance programs in Ontario, also known as pay-as-you-drive, increased 37 per cent in 2020 over the year before. In the past, people could only be rewarded for good driving with discounts on your premiums, but now one company has been granted permission to raise rates for drivers who take part in risky driving behaviour. The Financial Services Regulatory Authority of Ontario (FSRA) recently approved a change allowing Travelers Canada Insurance to charge bad drivers a 10 per cent surcharge if they take part in what it considers risky driving. Now that one company has been approved to charge bad drivers, more companies could also seek permission to do the same.
Ontario regulator gives PACE Credit Union $500-million lifeline financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
TORONTO Ontario’s financial regulator will provide a $500-million credit facility to help PACE Credit Union continue operations. The Financial Services Regulatory Authority of Ontario took control of the credit union when it was placed under administration in September 2018 by FSRA’s predecessor, the Deposit Insurance Corp. of Ontario. The regulator appointed David Finnie as […]