Mr. Speaker, since September 11, 2001 the world has changed in many ways. It has affected our society, as individuals and as a collective. In the world of business many companies have had to cope with dramatic consequences which often affect their business plans and viability.
Overlooked at times is the issue of the cost of insurance for people and business. Recently the Bank of Canada singled out rising costs of auto and home insurance as a significant contributor to core inflation. Moreover, many independent business owners are coping with increased costs and reduction or elimination of carriers for their services. Indeed, some policyholders with impeccable records have witnessed significant hikes in premiums or loss of coverage altogether.
The time has come for the federal government to examine this issue as it currently wanders without leadership in a bureaucratic wasteland. Canadian consumers and business owners need it reviewed to ensure fairness and integrity in these rising costs.