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Tag: no-fault
Auto Insurance
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” […]
November 28, 2022
Auto Insurance
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 […]
May 5, 2022
Auto Insurance
Calm Compensation: Changes to Alberta insurance claims process ‘fairer and more customer-focused,’ says IBC
Edmonton, Alberta — The Direct Compensation for Property Damage (DCPD) system for Alberta’s auto insurance industry came into effect on Jan. 1, moving the province toward a model that incorporates more fault-free policy options. As of the beginning of this year, Albertan drivers are able to claim vehicle damage that they are not responsible for […]
January 24, 2022
Auto Insurance
Considerate Claims: Alberta to allow not-at-fault drivers to pursue claims through own carrier
Edmonton, Alberta — Changes are on the way for the Alberta auto insurance industry as the provincial government announced new measures to streamline claims processing for not-at-fault drivers. Starting Jan. 1, drivers will be able to claim vehicle damage that they are not responsible for to their own insurance company and not that of the […]
November 29, 2021
Auto Insurance
Faultless Future: ICBC to roll out no-fault platform this weekend
Victoria, British Columbia — The Insurance Corporation of British Columbia (ICBC) is gearing up for the launch of its hotly debated no-fault claims platform on Saturday, following months of criticism from the province’s legal community. The platform, which ICBC expects will save drivers as much as $400 per year, is seen by those within the […]
April 30, 2021
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