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Intact has ‘lost hope’ in this market

November 6, 2020 by Greg Meckbach

Intact Insurance could potentially re-enter the British Columbia auto market, but not if it is restricted to offering only optional coverages while competing against a government monopoly, CEO Charles Brindamour said this past Tuesday. During an earnings call, Intact Financial

News InsuranceLegislation / Regulation

Why opening up B.C. auto to competition could help even if it doesn’t lower prices

October 8, 2020 by Greg Meckbach

British Columbia motorists would probably benefit from more choice in auto insurance if it means they can start doing more things by phone and online, suggests the co-founder of an online price comparison site. With the provincial election scheduled Oct.

News BrokersInsuranceLegislation / Regulation

Why B.C. brokers are not rallying behind Liberal auto insurance election promise

October 7, 2020 by Greg Meckbach

British Columbia’s Liberal party, which ruled the province from 2001 through 2017, is promising to open auto insurance up to competition if voters return the Liberals to power in the Oct. 24 election. “The ICBC monopoly is a failure and

News ClaimsLegal

Mud and snow tires in winter prompts another small claim in B.C.

October 1, 2020 by Greg Meckbach

British Columbia car rental companies that provide mud and snow tires in December or January are keeping the province’s Civil Resolution Tribunal busy. In Fraser v. ICBC, released Wednesday, the CRT ruled against a claimant who sought $5,000 in damages

News InsuranceLegislation / Regulation

Car sharing service Turo says launch into B.C. market is ‘imminent’

May 28, 2020 THE CANADIAN PRESS

VANCOUVER – Fans of car-sharing services in British Columbia are about to get another option within weeks of the closure of two other car-share businesses in the province. Turo, which describes itself as the world’s largest peer-to-peer car sharing platform,

News Insurance

How pandemic impacted ICBC’s claim costs, investment income

May 15, 2020 THE CANADIAN PRESS

VICTORIA – The COVID-19 pandemic has sideswiped British Columbia’s public vehicle insurer, but the attorney general says it’s too soon to assess the potential damage. David Eby, who is also the minister responsible for the Insurance Corporation of B.C., said

News AdjustersInsuranceLegal

Expert witness rule in auto personal injury lawsuits deemed unconstitutional

October 25, 2019 by Greg Meckbach

A 22-year-old Supreme Court of Canada ruling in favour of a marine cargo insurer is a sword that could cut the other way for Canadian auto insurers. The British Columbia government brought in a rule this past March limiting parties

News ClaimsInsurance

400 plus vehicles written off since acid spill on B.C. highway last year: ICBC

February 19, 2019 THE CANADIAN PRESS

TRAIL, B.C. – British Columbia’s public auto insurer says about 450 vehicles have been written off since sulphuric acid spilled along a busy commuter route near Trail, B.C., in two incidents last spring. The Insurance Corp. of B.C. says there

News ClaimsInsuranceLegislation / Regulation

B.C. auto insurer heading for billion dollar loss

February 8, 2019 THE CANADIAN PRESS

VICTORIA – British Columbia’s attorney general says the financial situation with the province’s public auto insurance agency is critical and getting worse. David Eby says the Insurance Corporation of B.C. lost $860 million for the first nine months of its

News InsuranceLegal

The changes to B.C. auto injury lawsuit rules that this review recommends

February 7, 2019 THE CANADIAN PRESS

VICTORIA – A review of legal cases involving British Columbia’s public insurer says despite public perception, the agency isn’t lowballing claimants in its settlement offers. The review conducted by legal counsel in the Ministry of the Attorney General was released

News Legislation / RegulationTechnology

B.C. experiments with tech that blocks handheld use while driving

March 7, 2018 Greg Meckbach, Associate Editor

A telematics trial intended to address distracted driving in British Columbia is now underway. Insurance Corporation of British Columbia said March 2 it is “working with 139 drivers” in the province on a pilot project intended to block the use

News InsuranceLegislation / Regulation

No push from brokers to end B.C. government monopoly on auto insurance

March 7, 2018 Greg Meckbach, Associate Editor

Despite the fact that British Columbia’s government monopoly auto insurer lost almost $1 billion in the first nine months of last year alone, brokers in the province are not seeing a push from motorists to open the market to competition.