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Insurance Corporation of British Columbia


News Earnings / RatingsInsuranceMergers and Aqcuisitions

Intact CEO hopes B.C. is ‘starting to think about introducing more competition’ in auto insurance

August 2, 2017 by Canadian Underwriter

Nine 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

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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 Underwriter

A 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

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Alternate dispute resolution, tripling accident benefits among potential solutions for B.C. auto insurance: EY

July 26, 2017 by Canadian Underwriter

The process of suing for compensation for motor vehicle accidents “could be made far more efficient” in British Columbia, whose monopoly auto insurer’s basic accident benefits are “low compared to modern medical and rehabilitation costs” in care-based auto insurance schemes

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Insurance Corporation of B.C. financial condition ‘seriously compromised,’ Basic Autoplan needs redesign: EY

July 25, 2017 by Canadian Underwriter

The premiums charged by British Columbia’s government-run monopoly provider of basic auto insurance are “not high enough” to cover claims, the system is not sustainable and the cost of the average minor bodily injury claim has risen well beyond the

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Canadian auto insurance customer satisfaction climbs despite premium increases: J.D. Power study

May 15, 2017 by Canadian Underwriter

Customer satisfaction with auto insurance in Canada has increased for the second consecutive year despite nationwide premium increases, according to the newly released J.D. Power 2017 Canadian Auto Insurance Satisfaction Study. The study, released on Monday, found that across all

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Exclusion clause for ‘conversion’ in comprehensive auto policy ‘does not come close’ to being easily intelligible: Court

April 24, 2017 by Canadian Underwriter

An exclusion in an auto insurance policy for loss or damage caused by “conversion,” by someone in lawful possession of a vehicle does not apply to a truck tractor badly damaged by fire, a Supreme Court of British Columbia judge

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Desjardins’ acquisition of Western Financial caused ‘headaches’ for brokers: Baker

April 19, 2017 by Canadian Underwriter

If Trimont Financial Ltd. acquires Western Financial Group, Desjardins Group officials will have “more time to focus on further integrating State Farm,” MSA Research Inc. suggested in a recent report released Tuesday. “Slowly but surely, the complexion of the industry

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ICBC examines anti-distracted driving technology

April 6, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) has posted a Request for Information (RFI) on BC Bid for market research and technology aimed at reducing distracted driving. The posting of the RFI, as part of ICBC and the government of

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ICBC enhances online driver licensing and claims services for customers

March 22, 2017 by Canadian Underwriter

Checking wait times at driver licensing offices or the status of a claim from the Insurance Corporation of British Columbia (ICBC) can now be done online thanks to new service enhancements. ICBC said in a press release on Wednesday that

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Ridesharing anticipated in B.C. by “end of 2017,” province unveils measures to help taxi industry modernize

March 8, 2017 by Canadian Underwriter

The government of British Columbia announced on Tuesday a series of improvements for the taxi industry in anticipation of “ride-sharing services coming to British Columbia by the holiday season at the end of 2017,” including improving certain insurance products, potentially

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ICBC, B.C. government and police unite for enforcement crackdown on distracted driving

March 7, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC), the provincial government and police across B.C. are joining forces in March to raise awareness of the dangers and consequences of distracted driving. “Despite tougher penalties and increased education, distracted driving still contributes

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ICBC seeks fairness with basic insurance rate discounts

March 6, 2017 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) is looking to reduce pressure on customers who do not cause crashes and increase the accountability of at-fault drivers with proposed changes to basic insurance. “We believe that drivers who cause crashes should