Canadian Underwriter

B.C. government releases discussion paper to create “level playing field”

July 11, 2003   by Canadian Underwriter

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As part of the move to make a more level playing field between B.C.’s public insurer and private insurers, the provincial government has released a discussion paper on proposed legislative changes.
The changes would see optional coverage, whether provided by the Insurance Corporation of B.C. or by private insurers, fall under one piece of legislation. Basic insurance coverage, for which ICBC has the monopoly, would fall under a separate piece of legislation.
“The proposed amendments implement government’s New Era commitment to increase competition in B.C.’s optional insurance market while retaining ICBC as the sole provider of basic auto insurance,” states a Ministry of Finance press release.
Comments on the 64-page discussion paper are to be submitted by September 15, 2003.

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