The MPP for St. Catharines wants insurance companies to stop 'price gouging' small businesses.
NDP MPP Jennie Stevens brought the issue of commercial insurance gouging up at Queen's Park today.
She says she would like the government to take 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.
Stevens says hotels in Niagara owned by the Mitsopolous family have seen their insurance triple with over a $200,000 increase throughout the pandemic.
She says in some cases, St. Catharines restaurants are seeing insurance rates double.
“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?
“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.