The provincial government announced a large-scale review of Nova Scotia’s automotive insurance system yesterday.
The review, which will be led by former finance deputy minister Ron L’Esperance, is meant to ensure drivers in the province have access to appropriate coverage for fair, affordable premiums.
Finance Minister Graham Steele, who is responsible for the Insurance Act, said the impetus behind the review is the act’s age, not any specific problems.
“It’s been literally decades since the (Automotive Insurance Act) was looked at,” said Steele.
“There are some things that are clearly out of date. … It’s time to look at it again. And if everything is OK, then we’ll leave it alone.”
The exact scope of the review has yet to be decided, pending a study of the industry and consultations with the public. But Steele said the review would look at the entire automotive insurance industry in the province.
“Everything is on the table as long as it meets the test of fairness, affordability and stability. Really we’ll look at anything.”
