THOMPSON’S

WORLD INSURANCE NEWS

Jan. 17, 2002

Dominion to give discount to
‘I promise’ program families

(Copyright Thompson’s World Insurance News

Not to be redistributed by individual recipients.)

Dominion has been given approval by the Financial Services Commission of Ontario to offer a discount to families that sign on with the I Promise program.

“So that’s huge,” said Gary Direnfeld, a social worker who created the program. He is launching it officially at a press conference in Hamilton next Monday.

The program costs $40, which will be paid initially by policyholders. Once they prove to the insurer that they’ve signed on, Dominion will give a $40 reduction on the bodily injury portion of their policy.

Dominion CEO George Cooke, who will also attend the press conference, said no calculations have been made to demonstrate how much I Promise will save the company on claims.

“But the logic is clearly there to me.”

In addition to a back window “how’s my driving” decal” which will have a number for people to call, the program also includes an extensive contract that parents and teens go through together and sign.

Mr. Cooke said he believes the program would reduce accidents because the presence of the sticker will be enough to make young drivers think twice behind the wheel.

He said he hopes other insurers will follow Dominion’s lead on the program.