‘Ontario Government needs to stop Big Insurance from profiteering off the pandemic’
“Will this government step in to do something meaningful to protect our hard-hit sectors affected by insurance profiteering.” – St. Catharines NDP MPP Jennie Stevens
A News Release from the Constituency Office of St. Catharines NDP MPP Jennie Stevens
Posted April 15th, 2021 on Niagara At Large
QUEEN’S PARK, Ontario —St. Catharines NDP MPP Jennie Stevens brought the issue of commercial insurance gouging of small businesses to the Ontario legislature Thursday calling on the Ford government to immediately take meaningful action to fix insurance companies profiteering off COVID-19, particularly the insurance hikes on the hardest hit sectors like hospitality and restaurants, including the ones in Niagara.
“Question to the Premier. The St. Catharines City Council just passed a motion about commercial insurance gouging – they want action. In October you acted surprised at commercial insurance gouging increases that you described as “astronomical”, and “wait for the next budget!” It was more of the same – tough talk that stops after you leave the podium. What’s the cost of no action?
Stevens provides an example with the locally owned hotels by the Mitsopolous family, which have seen their insurance triple with over a $200,000 increase throughout the pandemic. In some cases, St. Catharines restaurants are seeing insurance rates double, which are often more than the $20,000 that is offered in the COVID-19 Ontario Small Business Support Grant, while in some cases the increases are higher than both federal and provincial COVID-19 business support combined.
“Will this government step in to do something meaningful to protect our hard-hit sectors affected by insurance profiteering and take action on commercial insurance?” asked Stevens.
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