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News Markets / Coverages

Should Canada reconsider how it finances wildfire suppression?

August 13, 2018 by Jason Contant

As hundreds of wildfires burn across British Columbia, one disaster mitigation expert is recommending that Canada reconsiders how it finances fire suppression costs. Last year, B.C. alone paid out more than $560 million in fire suppression costs, and it is

News InsuranceMarkets / Coverages

What private insurers think of changes to B.C. auto insurance model

August 13, 2018 by Jason Contant

Canada’s private auto, home and business insurers say the “fair rate” auto insurance model proposed by British Columbia’s public auto insurer last week is “long overdue.” Under the Insurance Corporation of B.C. (ICBC)’s proposed new auto insurance model, higher-risk drivers

News BrokersInsurance

What B.C. brokers think of proposed changes to public insurance model

August 12, 2018 by Jason Contant

When the Insurance Corporation of British Columbia (ICBC) begins rolling out recently announced changes to its auto insurance rating model, brokers will be on the front lines explaining the changes to clients. And brokers say they need to know more

News InsuranceLegislation / Regulation

Public insurer proposes major shake-up to auto insurance rating model

August 9, 2018 by David Gambrill

The Insurance Corporation of B.C. is proposing a significant shake-up of its auto insurance rating system, introducing a “fair rate” system that would have higher-risk drivers paying higher premiums than lower-risk drivers. “We want to make Basic insurance premiums more

News InsuranceLegalRisk

Court balks at auto injury medical expert witness fee

August 3, 2018 by Greg Meckbach

When a motorist gets sued by an accident victim, should the defendant be ordered to pay $5,000 to reimburse the plaintiff for half a day’s court testimony from a plaintiff’s doctor? A British Columbia court official says no. Gary Senner

News InsuranceLegislation / RegulationTechnology

Controversy swirls around province’s plan for ridesharing insurance

July 24, 2018 by Jason Contant

B.C.’s provincial government will introduce legislation to enable ridesharing in the province by fall of 2019, prompting the industry’s private insurers to say they can provide ridesharing insurance faster and better than the province’s public insurer. B.C.’s Ministry of Transportation

News ClaimsInsurance

Where provincial drivers crashed an average of 960 times a day

July 22, 2018 by Jason Contant

Vehicle crashes in British Columbia hit an all-time high of 350,000 in 2017, the province’s public insurer reported this week. This equates to about 960 crashes a day – a 25% increase from 2014. “That means one out of 10

News ClaimsInsurance

What happens when your mechanic gives you insurance advice

June 29, 2018 by David Gambrill

After following up on their mechanic’s suggestion to file a retroactive insurance claim, a B.C. couple is now on the hook for an $800.75 repair job to their 2010 Toyota Prius. Blenda and Raymond Pilon made an auto insurance claim

News InsuranceLegalTechnology

How much ICBC expects to save by using new anti-fraud software

May 31, 2018 by Jason Contant

The Insurance Corporation of British Columbia (ICBC) expects to save $43 million this fiscal year and another $59 million the following fiscal year by using specialized anti-fraud software that the public insurer implemented in 2017. “And that’s on top of

News ClaimsInsuranceLegalMarkets / Coverages

This percentage of consumers believe auto insurance fraud is an “accepted practice”

May 28, 2018 by Jason Contant

Nearly half of customers polled for an Insurance Corporation of British Columbia (ICBC) survey believed that committing auto insurance fraud is an “accepted practice” in B.C., with most saying that claims contain an “element” of fraud. The survey of 1,373

News AssociationsClaimsInsuranceLegislation / RegulationMarkets / Coverages

B.C. projects big savings from new minor injury cap

April 24, 2018 by Jason Contant

The Insurance Bureau of Canada (IBC) is congratulating British Columbia’s proposed legislative changes that would introduce a minor injury cap of $5,500 in the province, a move aimed at reversing the public auto insurer’s skyrocketing legal and administrative costs. The

News Earnings / RatingsInsuranceMarkets / Coverages

Two factors that may be contributing to ICBC’s poor fiscal performance

April 16, 2018 by Jason Contant

The combination of an unfriendly environment and “misguided provincial government policies” have contributed to the Insurance Corporation of British Columbia’s (ICBC) dismal financial performance, the Fraser Institute said in a new report. The report, titled The Decline and Fall of