ICBC looks to cut costs
By CRM staff Toronto, Ontario — January 18, 2019 –– Attorney General David Eby is exploring the idea of capping or restricting the costs associated with using expert reports in ICBC cases, as reported by Global. According to Eby, ICBC has received surprising increased costs from a rise in lawyers’ commission reports used to support their […]
ICBC committed to resolving dispute with ARA
By CRM staff Toronto, Ontario – January 10, 2019 – Automotive Retailers Association CEO Ken McCormack has said the minister in charge of ICBC is committed to finding a solution to an ongoing dispute over compensation rates. McCormack met with BC Attorney General David Eby on January 7 to discuss a 2010 decision that ended negotiations […]
ICBC gets approval for rate increases
By CRM staff Toronto, Ontario — January 3, 2019 —ICBC’s request for higher insurance premiums was granted today, as the B.C. Utilities Commission gave the go ahead for the public insurer to raise insurance rates by 6.3 percent. The B.C. insurance company applied for the rate increase back in December after facing significant skepticism throughout 2018, which […]
ICBC increases auto insurance rates by 6.3 percent
By CRM staff Toronto, Ontario — December 17, 2018 — Drivers in British Columbia are going to experience another increase in auto insurance premiums as the Insurance Corporation of British Columbia (ICBC) announced a 6.3 percent hike – working out to be about $60 extra each year for the average plan. “Today’s rate increase is […]
Fraser Institute report on ICBC vindicates bodyshops
By CRM Staff Toronto, Ontario — November 21, 2018 — Despite what the provincial government might believe, it isn’t collision repairers fault that British Columbia’s drivers spend more for their auto insurance than other Canadians — at least according to a report issued by the Fraser Institute. The right-leaning think tank’s report, released Tuesday, argues that […]
ICBC proposes new premiums plan
By CRM Staff Toronto, Ontario – August 10, 2018 – The British Columbia provincial government has announced that they want drivers to pay ICBC premiums that project more of an accurate risk they represent on the road. The new proposed insurance premiums would be taking in effect next September. The current insurance structure of ICBC’s […]
The ICBC Crisis Explained — Part 1: The public and the private
Collision Repair magazine’s coverage of the crisis facing the Insurance Company of British Columbia, a public insurer with a near monopoly in the province, has received considerable attention from readers around the country. One of the most frequent requests made to our editorial team over the course of the crisis has been for us to […]
ICBC’s latest strategy for restoring its finances? Rate cuts for glass repairs
Victoria, B.C. — June 12, 2018 — The Insurance Company of British Columbia (ICBC), a publicly owned auto insurer, announced it will lower the amount it pays glass repairers by 25 percent, a move that has caused an outcry from members of the automotive community. With a virtual monopoly on B.C. automotive insurance, the […]
Liberals to blame for ICBC crisis, Fraser Institute
Vancouver, British Columbia — April 9, 2018 — British Columbian autobody shops can breathe slightly more easily after a new report was issued about the financial crisis facing the Insurance Company of British Columbia (ICBC). Months after Attorney General David Eby promised to investigate claims that widespread insurance fraud, the provincial government has […]
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 […]
