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 […]
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 […]
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 […]
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 […]
Western woes: Bodyshops brace for market shock after B.C. public insurer announces $1.3 billion loss last year
By CRM Staff Victoria, British Columbia — January 29, 2018 — The Insurance Corporation of British Columbia (ICBC), the public auto insurer for the province, saw losses hit $1.3 billion last year, according to expert extrapolations from a study of the first three-quarters of 2017. What this means in the longer term for B.C. bodyshops […]
Friday Fun: World’s biggest collision repair job; husband and wife locked in legal battle over repair shop
By Jeff Sanford Toronto, Ontario — December 1, 2017 — In this week’s edition of Friday Fun, botched insurance scams, the world’s biggest single collision repair job, a tragic case in Winnipeg finally goes to court, and much, much more. Police think a driver may have fallen asleep behind the wheel this past Sunday morning […]
‘Drastic action’ needed to fix ICBC’s financial crisis
By CRM Staff Victoria, British Columbia — September 6, 2017 — Mismanagement of the Insurance Corporation of British Columbia (ICBC) “goes back years,” according to a statement from BC’s Attorney General David Eby. The statement came in the wake of news that the BC government is limiting ICBC rate increases for drivers, while embarking […]
Friday Fun: BC brokers in hot water for improperly accessing AutoPlan
By Jeff Sanford Toronto, Ontario — July 27, 2017 — In this week’s edition of Friday Fun we look into how brokers in BC are under investigation as a result of allegations that they improperly accessed the province’s Autoplan system, a court action in the US that alleges a shop didn’t follow OEM procedures, how […]
Report: Current ICBC model not sustainable; 24 percent of costs go to legal fees
By CRM Staff Victoria, British Columbia — July 26, 2017 — The rates currently charged by the Insurance Corporation of British Columbia (ICBC) for basic auto insurance are not sufficient to cover the cost of automotive and personal injury claims, according to a new report by Ernst & Young. “Over the past several years, the […]
