Report: Auto insurance rates rise in Ontario and Alberta, decline in Atlantic Canada
Toronto, Ontario — May 2, 2018 —Average auto premiums in Ontario and Alberta increased 1.08% and 2.46%, respectively, while rates on the East Coast saw a 0.86% decrease according to a report released by LowestRates.ca, an online rate comparison site for insurance, mortgages, loans and credit cards The company’s Q1 2018 Auto Insurance Price Index, […]
New government, old problems for the ICBC
By CRM Staff Vancouver, British Columbia — March 4, 2018 — Measures taken by the provincial government to help buoy the finances of the Insurance Company of B.C. (ICBC), which lost $1.3 billion last year, may not be paying off. Last month, an independent report into the ways to ease the financial crisis […]
ICBC gives update on financial dumpster fire
Gold River, B.C. — March 4, 2018 — Provincial Attorney General David Eby has announced that the Insurance Company of B.C. will no longer be required to have enough capital available to cover the cost of claims. “So, we had to change the rule in order to appear in front of the utilities commission […]
Report alleges B.C. Liberals ignored warnings about the ICBC in 2014
Vancouver, B.C. — February 27, 2018 — The provincial NDP may have found a new target to pin the blame of the Insurance Company of B.C.’s fiscal woes, with a report alleging that the previous Liberal government had known of the situation in 2014 and failed to take the appropriate actions. The report, released […]
Bent out of Shape: B.C. Lawyers, masseuses come out against minor injury claim cap
By Gideon Scanlon Vancouver, B.C. — February 5, 2018 — When the provincial government elected to place a cap on payouts for victims of minor injuries, it might have predicted where the most vocal opposion to the plan would come from. A group of B.C. trial lawyers have banded together to form Rights Over Arbitrary Decisions […]
Special Sneak Peak: Money Where it’s Sunny
This year’s first Collision Repair magazine is still hot from the presses, our online audience can get another sneak peak inside without risking their fingertips. In this special sneak preview, we take a look at an unlikely investment idea, expanding into the Mexican collision repair market. Spotlight on Mexico By Gideon Scanlon In our reports […]
IBC applauds B.C.’s move to curb rising auto insurance costs and calls for competition to reduce rates
By CRM Staff Vancouver, B.C. — February 7, 2018 — The new NDP government in B.C. has come out in support of an Insurance Bureau of Canada (IBC) report on resolving the province’s insurance crisis by opening up the door for private insurers to compete. The government has said it will move towards a […]
In the Crosshairs: ICBC mess not the fault of bodyshops – BC ARA
By Gideon Scanlon Vancouver, B.C. — February 5, 2018 — Provincial Automotive Retailer Association spokesman Adam Grossman has struck back against reports that questionable bodyshop billings had lead to the ICBC’s $1.3 billion loss last year. Despite the fact that the ARA’s position is supported by ICBC, the unsubstantiated claims have spurred the provincial government […]
B.C.’s financial dumpster fire: NDP clarifies ICBC response
By CRM Staff Vancouver, British Columbia — February 1, 2018 — The recently installed NDP government has ruled out the possibility of passing legislation on no-fault insurance in the province and will ignore calls for a liberalizing of the province’s auto insurance sector. When provincial Attorney General David Eby spoke about revelations that B.C.’s ICBC […]
Privatize or Pay: The Insurance Bureau of Canada calls for privatization in B.C.
By Gideon Scanlon Vancouver, British Columbia — February 1, 2018 — In response to news that B.C.’s public auto insurer ended 2017 with a $1.3 billion loss, the Insurance Bureau of Canada (IBC) has released a report calling for more privatization in the B.C. auto insurance business – effectively calling for an end to […]
