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” […]

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 […]

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 […]