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ICBC
B.C. to designate distracted driving as high-risk behavior under ICBC’s Driver Risk Premium program
November 6, 2017 by Canadian UnderwriterThe Government of British Columbia’s Ministry of Attorney General announced on Monday that it will work to designate distracted driving as a high-risk driving behaviour under the Insurance Corporation of British Columbia’s (ICBC) Driver Risk Premium program. This means a…
Almost half of B.C. drivers using winter tires this year: ICBC survey
October 31, 2017 by Canadian UnderwriterNearly half (48%) of polled drivers in British Columbia “plan to or already have put winter tires on their vehicle in anticipation of another heavy winter this year,” the Insurance Corporation of British Columbia (ICBC) reported on Monday. The survey…
ICBC, government and police launch pedestrian safety campaign
October 11, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC), provincial government and police launched a pedestrian safety campaign on Wednesday. “Alarmingly, a disproportionate number of pedestrian-related crashes and injuries happen in just four months of the year – 43 per cent of…
ICBC issues warning on text message scam
September 29, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) is warning customers to delete any text messages purporting to be sent from the insurer, after “a number” of customers reported to have received these texts over the last 24 hours. ICBC reported…
Distracted driving results in more deaths in B.C. than impaired driving: ICBC
September 6, 2017 by Canadian UnderwriterDistracted driving continues to claim more lives on roads in British Columbia than impaired driving, the Insurance Corporation of British Columbia (ICBC) said in a press release on Wednesday. Despite tougher penalties, more police enforcement and continued public education, on…
“Drastic action” needed to address ICBC ails, remedy hefty rate hikes
September 6, 2017 by Canadian UnderwriterThe British Columbia government has taken the reins to protect drivers and address mounting financial concerns at the Insurance Corporation of B.C. (ICBC), including by limiting rate increases that threatened to reach double-digits. “Drastic action is needed to fix ICBC’s…
B.C. attorney general extends ICBC’s rate filing deadline by two weeks
August 31, 2017 by Canadian UnderwriterBritish Columbia’s attorney general announced on Thursday that he has extended by two weeks the rate filing deadline for the Insurance Corporation of British Columbia (ICBC). Attorney General and the minister responsible for ICBC, David Eby, said in a statement…
Making ICBC a co-op one option for B.C., competition must be part of any option selected: taxpayers federation
August 25, 2017 by Canadian UnderwriterThe British Columbia government has options at its disposal to address auto insurance problems in the province – ranging from leaving the Insurance Corporation of B.C. (ICBC) to shuttering the insurer – but all should include reintroduction of competition, concludes a new report commissioned by the Canadian Taxpayers Federation (CTF). CTF argues that “fast and furious changes” are needed in light of the “looming 30% hike to car insurance,” a figure noted in an Ernst & Young LLP (E&Y) report made public last month. Among its many observations, the…
ICBC reports 124 claims and $500,000 in costs from wildfires to date
August 23, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) reported on Wednesday that it has received 124 claims to date, at a cost of $500,000, from the wildfires burning in the province. Most vehicle damage claims were related to extreme heat and smoke damage, with some vehicles even rendered as total losses, ICBC reported in a press release.
Recognizing that it is experiencing the “worst wildfire season in the province’s history,” ICBC added that it has made formal changes to its policies to reflect “these special circumstances for customers on evacuation…
More vehicle crashes, increased injury payouts and higher vehicle repair costs contributing to proposed rate hike: ICBC
August 15, 2017 Jason Contant, Online EditorA greater number of vehicle crashes, increased injury costs and higher vehicle repair costs are all contributing to the increase in proposed insurance rates for drivers in British Columbia, the province’s Crown corporation responsible for auto insurance said on Monday.…
Intact CEO hopes B.C. is ‘starting to think about introducing more competition’ in auto insurance
August 2, 2017 by Canadian UnderwriterNine days after Insurance Corporation of British Columbia released a report it commissioned to Ernst & Young LLP on reforming auto insurance, the chief executive officer of Intact Financial Corp. suggested it is “better to have a competitive marketplace” in…
EY report on reforming B.C. auto points to impending restrictions in Australia on auto accident benefits for minor injuries
July 27, 2017 by Canadian UnderwriterA report released April 11 by the Ontario finance ministry “contains many useful learnings” for British Columbia’s government-run auto insurer, Ernst & Young LLP suggested in a report released July 24. In Affordable and Effective Auto Insurance – a New…