Ontario drivers are eligible to receive nearly $1 billion in car insurance rate relief from insurers due to the COVID-19 pandemic, according to the Financial Services Regulatory Authority (FSRA).

That’s a 45% increase (or more than $300 million) provided by 13 of the largest insurers since May 2020. This is equivalent to 7.1% of total annual auto insurance premiums made available to the 6.6 million drivers in Ontario.

Insurance companies’ pandemic relief measures vary. They may include rebates, rate reductions, waiving non-sufficient fund fees for nonpayment, risk re-ratings, and premium deferrals.

For more information visit https://www.insurancehotline.com/resources/fsra-says-1b-available-ontario-drivers-due-covid-19/

Online event to promote mutual assistance among entrepreneurs

A free online event hosted by the Open People Network will bring together startup entrepreneurs to share their business needs and offer mutual support. Startups will each have two minutes to explain their business and what they need help with. Other online participants will then have a chance to offer help where they can. If you are you looking for a Chief Technical Officer, manufacturer, designer, or other startups to partner with, the #PitchIt e2e event is a way to find support. Thursday, October 22, 2 p.m. Register and apply to participate.

Local Recovery Challenge offers financial support to businesses using connectivity in their product or service

A digital services initiative is offering up to $50,000 in financial support to start-ups and small and medium-sized enterprises for product development, market traction and scaling their company using connectivity. Part of the ENCQOR 5G initiative to support Ontario-based businesses in testing and/or adopting 5G capabilities, the Local Recovery Challenge is open to all businesses—with a special focus on sectors such as ride sharing services; delivery services; navigation, mapping and route optimization; proof of delivery; credential validation; and more. Complete a short contact form before October 30 and someone will reach out to you to discuss your application.

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