Two auto insurance companies are seeking double-digit increases in New Brunswick and the provincial government is intervening.
The Wawanesa Mutual Life Insurance Company is seeking an 11.69 percent rate increase for private passenger vehicles.
The Facility Association wants an even bigger hike of just over 18.2 percent, a 21 percent increase in its taxi and limousine rate and an almost 10.8 percent jump in its commercial auto rate.
The New Brunswick Insurance Board must hold hearings anytime companies seek hikes of more than three percent and both companies will appear before the board.
The hearings will be conducted Oct. 16-19 for the Facility Association and Oct. 23-24 for Wawanesa Mutual Life Insurance Company.
Finance minister Cathy Rogers says the province is intervening to ensure that any increases are just and reasonable.