Update on Auto Insurance Plan Implementation

The government of Nova Scotia is proceeding with the next steps toward its auto insurance reforms.

Environment and Labour Minister Ron Russell announced today, July 2, that Claudette Cantin, a partner with KPMG's Insurance Industry Practice, has been retained to provide actuarial services to assist with the reforms. In addition, advertisements were placed last Friday to begin soliciting members for the new Nova Scotia Insurance Review Board. The board will conduct rate reviews, examine and ensure fairness in insurance rules and monitor the system to ensure reforms are working for consumers.

"These steps will help us deliver auto insurance relief for Nova Scotia motorists," said Mr. Russell. "This financial analysis -- coupled with the consultation staff is conducting with consumers, the medical and legal communities, industry, and other key stakeholders -- will allow us to develop reforms to our insurance system that are thoughtful, realistic, and achievable."

"Ms. Cantin's analysis will be helpful in determining the necessary limits on minor injury awards that will reduce overall average premiums by 20 per cent", added Mr. Russell.

The province's work is complemented by the work being conducted by the Atlantic Insurance Harmonization Task Force to unify insurance rules in Atlantic Canada. On June 27, the Atlantic premiers announced that the task force would be chaired by former president and CEO of Island Tel, Fred Morash, of Truro.

Ms. Cantin has more than 20 years of professional actuarial experience in the insurance field. She is currently a member of the board of the Canadian Institute of Actuaries and was a member of the board of the Casualty Actuarial Society.