Car insurance premiums are on the rise
Some Ontario insurers have received approval for the rate hikes as high as 15 per cent THUNDER BAY — Many drivers can expect to experience sticker shock when their car insurance policies come up for renewal this year. In Ontario, the Financial Services Regulatory Authority has already approved insurance companies' applications for rate increases as high as 11 to 15 per cent, while others have been granted smaller hikes. "Insurance rates are going to go up in the near term, because we've already seen rate approvals at FSRA come in. An insurer operating in Ontario has to apply to FSRA if they want to raise rates. It will look at the application and say 'Yes, that makes sense based on your numbers. Your costs have gone up,' " explained John…