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Archive for July 18th, 2011

Two recent reports show that drivers in New Brunswick were on their motor insurance in the amount overcharged by $ 500 million has alleged that the New Brunswick Insurance Board is authorized to produce it may have taken. Although the Insurance Board issued a report, which agreed in substance to a report by an actuarial expert, the Executive Council continued criticism of the liberal opposition political party connections than their fired guilty to conservatives overload happens over a period of five years.

If the allegations are true, it is a clear case of a regulatory authority does not find the best interest of the constituency it was created to serve. Unless the Chairman of the Board was to gain something financially, would have to wonder why they are in a position of supervision and produce so that the overload.

Overload could be a case of the board is asleep at the wheel while the car insurance should have started with more money than they are. Maybe it’s the incompetence and not necessarily party affiliation, that guilt is. Perhaps the Liberal Party has dropped the charges of Chairman Conservative, just to create enough ill will to force the removal of the chairman of the board. It could also strengthen their hand on the side of consumers in the next elections are due.

In any case, consumers in New Brunswick the losers of the situation, no matter who is to blame. If findings of the reports are correct, they should quickly rectify the situation and ensure that consumers who have been affected to be together. A new board would also be a signal to the auto insurance they are not in a position to take advantage of consumers in the future.

It’s a shame that it’s almost a necessity, a watchdog monitoring have another agency. Nevertheless, the oversight role of voters for public organizations. This may be an alarm bell for the New Brunswick citizens, whether designated groups and elected officials do what they are responsible for to concentrate. Fired first not play party politics in the best interest of the public. Hopefully in the next five years, the New Brunswick Insurance Board will do the job they should really do.