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ICBC
Are you covered for driving through flood water?
June 5, 2023 by Jason ContantBritish Columbia’s Civil Resolution Tribunal (CRT) has ruled in favour of the province’s public auto insurer after finding it properly classified a water-damaged vehicle under collision coverage. At issue was whether Insurance Corporation of British Columbia (ICBC) correctly determined water…
ICBC announces new president and CEO
May 1, 2023 by Jason ContantInsurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC…
EY clarifies report that rekindled public-private auto insurance debate
February 1, 2023 by Jason ContantEY Canada has issued a clarification to a report it conducted that B.C.’s public auto insurer says show the province’s auto insurance rates are among the lowest in Canada. Commissioned by the Insurance Corporation of British Columbia (ICBC), EY conducted…
Chief executive to leave public insurer in February
January 18, 2023 by Jason ContantInsurance Corporation of British Columbia (ICBC) president and CEO Nicolas Jiminez will be leaving his post on Feb. 3 to become president and CEO of BC Ferries, ICBC announced Tuesday. ICBC’s board of directors made the announcement in a press…
Regulator green-lights auto insurer’s two-year rate freeze
January 11, 2023 by Jason ContantBritish Columbia’s auto insurance regulatory body has approved a 0% rate change for basic auto insurance rates in the province for two years, the fifth year in a row of no rate increase. The British Columbia Utilities Commission approved the…
Why this insurer saw double the amount of auto claims. Could it happen again?
December 7, 2022 by Alyssa DiSabatinoA major snowfall in southern British Columbia last week led to a 94% increase in claims compared to the week prior, Insurance Corporation of British Columbia (ICBC) reported. And with more snow being forecast today, drivers should prepare for more…
Is the two-year limitation period set in stone?
July 21, 2022 by Jason ContantA motor vehicle accident victim can proceed with her personal injury claims after British Columbia’s Civil Resolution Tribunal (CRT) found the provincial public auto insurer made an “explicit promise” not to be bound by the two-year limitation period to start…
Auto insurer changes policy on seeking costs from cyclists and pedestrians
May 5, 2022 by Jason ContantEditor’s Note: This story has been updated to include information from ICBC. The Insurance Corporation of British Columbia (ICBC) is changing its policy on when it seeks recovery for costs from cyclists and pedestrians who have some responsibility for…
Large brokerage reprimanded in credit card fraud case
February 14, 2022 by Jason ContantThe Insurance Council of British Columbia has reprimanded Westland Insurance Group Ltd. for failing to take appropriate action after becoming aware of a possible compromise of client information. Council executive director Janet Sinclair found that while Westland co-operated with agencies…
Fairness officer role approved as ICBC launches enhanced care auto insurance
June 7, 2021 The Canadian PressVICTORIA – The Insurance Corporation of British Columbia has created a new position aimed at ensuring the Crown-run auto insurer makes fair and transparent decisions related to its newly launched enhanced care plan. A statement from the Ministry of Public…
ICBC says COVID-19 rebate cheques delayed after cyberattack on third party
March 18, 2021 The Canadian PressVANCOUVER – The Insurance Corporation of British Columbia says it’s temporarily delaying the delivery of COVID-19 rebate cheques due to a cyberattack on a third-party vendor contracted to provide printing and distribution services. ICBC says in a statement the vendor…
Broker suspended for his role in “grey market” luxury vehicle sales
February 16, 2021 by David GambrillA B.C. broker has been fined $7,000 and had his licence suspended for a year for his role in a “grey market” scheme to circumvent a ban on selling new luxury cars directly to used vehicle dealerships. Anthony Bryan Chua…