Cash for the Furnace: Insurance bureau says ICBC on track to lose $298 million this year
Vancouver, British Columbia — The Insurance Bureau of Canada (IBC) reported Friday that British Columbia’s crown insurance company is on track to record a financial loss of $298 million for this year. Vice president of IBC’s western and Pacific regions, Aaron Sutherland, called this update from the Insurance Corporation of British Columbia (ICBC) “incredibly disappointing” […]
Repairers Give the Grades: Contribute to Collision Repair mag’s 2022 Insurer Report card
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Extended Trial Period: LORs skyrocket for non-drivable claims nationwide, Enterprise report says
Toronto, Ontario — Canada is quickly losing its edge in the collision replacement-related rental market, as the latest Enterprise LOR (length of rental) report showed that the average rental in the nation is up 5.8 days from the second quarter last year, significantly closing the gap to the U.S.’s 17.7 day average. The average LOR […]
Follow the Money: ICBC publishes map of most dangerous intersections on Vancouver Island
Victoria, British Columbia — An interactive map published by British Columbia’s provincial insurer delves deep into the specific intersections on Vancouver Island where the most auto collisions occur—incidentally, also giving shop owners a good idea of where to invest in advertising. According to the Insurance Corporation of British Columbia’s data, which is as recent as […]
Uncrossed Wires: New update to Identifix software improves diagram viewing feature, Solera says
Texas, United States — Solera is aiming to make the repair process as seamless and convenient as ever with the announcement of a new update to the company’s Identifix Direct-Hit repair software, which now allows for additional wiring diagram viewing features. With this new update, announced by the company in a press release last Tuesday, […]
Picking Pockets: N.L. Immigration Minister asks auto insurers to ‘not exploit’ Ukrainian refugees
St. John’s, Newfoundland — From one hardship to another, reports have begun circulating that Ukrainian refugees arriving in Newfoundland are being charged exorbitantly high auto insurance rates, well over the average paid by most Canadians. The Canadian Press got a hold of two auto insurance quotes from a pair of Ukrainian refugees in St. John’s—one […]
The Price of Pedaling: ICBC will no longer charge injured cyclists for repairs
Vancouver, British Columbia — Following a wave of public condemnation after a Vancouver-area cyclist was struck by a vehicle running a red light and asked to pay for its repairs, ICBC has announced major changes to the way claims for passive road users are managed. The Insurance Corporation of British Columbia will no longer require […]
Rent Receipt: Canadian LOR up four days in Q1 2022, says Enterprise
Toronto, Ontario — Enterprise Holdings released its Q1 Length of Rental report on Thursday, showing that LOR for collision-replacement rentals continues to climb in Canada and the U.S. The company reported an increase of four full days to the LOR for collision-replacement rentals, bringing the current Canadian average to 15.1 days for Q1 2022. The […]
Fine Print: Study finds many drivers misinformed about auto insurance coverage
Toronto, Ontario — Insurance is simply a fact of life when owning a vehicle in Canada, but a new survey from Forbes Advisor has found that many drivers lack a full understanding of what their policy actually provides. In an online survey of 2,000 U.S. adults, Forbes Advisor found that at least 40 percent believed […]
Industry Remix: New Romans Group report dives into changing industry landscape
Toronto, Ontario — Ever since the COVID–19 pandemic began people have been eagerly awaiting the “return to normal” that we were promised, but a new whitepaper from The Romans Group suggests that the auto industry that comes out of the other side of this won’t look quite the same as the one that came in. […]
