Understanding the problems plaguing the Newfoundland and Labrador car insurance industry is about as easy as a foggy drive down a pothole-ridden highway. That sounds lucrative for Newfoundland and Labrador insurance companies, but they say they're barely turning a profit. But even with those hikes, the PUB report notes that insurance companies haven't achieved "reasonable" profit levels since 2012. A few fixes have been proposed, such as better communication between entities, like insurance companies and the department of motor vehicle registration. If you want to go any deeper, the entire 139-page PUB report is here: a thorough, if slightly dry read.

Source: CBC News April 13, 2019 09:22 UTC