Rising accident rates and payout costs have ICBC facing a series of $1 billion deficits. (Comox Valley Record)

Share crash data, private insurers tell David Eby, ICBC

B.C. monopoly makes drivers retrieve their own records

Private insurers say they would be happy to take B.C. Attorney General David Eby up on his challenge to compete with ICBC for optional insurance, if the Crown corporation would share its driver history information directly with them.

“ICBC denies other insurers access to a customer’s driving record and accident history, as well as to the claims information that all insurers need to price and sell auto insurance,” the Insurance Bureau of Canada said in a statement released Friday. “As the monopoly insurer in the province, ICBC holds this information and uses it to price its products.”

The private insurance industry group was responding to Eby’s comments last week about big increases for new drivers as ICBC moves to a new risk-based rate structure. Eby said the biggest increase in mandatory basic liability insurance new drivers will face is 12 per cent, or about $200 a year.

It’s the optional insurance, including collision repair, where younger drivers are facing the biggest increases, Eby said, and if private insurers believe they can do it at a lower price, “they should do so.”

RELATED: New drivers pay most for optional coverage, Eby says

RELATED: ICBC injury caps face lawsuit from injury lawyers

Vehicle insurers make driver information available between companies everywhere else in Canada, including Quebec, where the government insurer shares driver data, the Insurance Bureau of Canada says. That’s why Quebec has more than 100 private insurers competing for optional insurance, and B.C. has “only two insurers that compete with ICBC in any meaningful sense.”

Eby has argued that drivers can retrieve their own driving records from ICBC online and take them to a private insurer to compare rates. Private insurers say that is the barrier that prevents better competition in B.C.

“If the Attorney General is suggesting that he will force ICBC to provide other insurers with the data they need to sell auto insurance in B.C., other insurers will gladly provide British Columbians with the choice they deserve,” the bureau said. “Given ICBC’s current performance, it’s a choice that’s desperately needed.”


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Freezing rain warning issued for central Interior Remembrance Day

Highway alerts in place for Begbie Summitt and Pine Pass

BCTF rejects mediator’s recommendations for settlement

Negotiations between B.C. teachers and the province will continue

Isaac Mack BCRA 2019 Bullriding Champion

Mack wrapped up the BCRA season with $12,484.99 in season earnings.

B.C. debate becomes bitter over impact of UN Indigenous rights law

Premier John Horgan cites salmon farm closures as model, opposition points to LNG, contracts

Indigenous-led organizations and province announce initiative to get North Coast communities off oil

First Nations communities from Haida Gwaii to Bella Bella will be eligible

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

B.C. teacher suspended for incessantly messaging student, writing friendship letter

Female teacher pursued Grade 12 student for friendship even after being rebuked

Disney Plus streaming service hits Canada with tech hurdles

Service costs $8.99 per month, or $89.99 per year, in Canada

Trudeau’s opponents: One gives him an earful, another seeks common ground

PM meets with Conservative leader Andrew Scheer and Saskatchewan Premier Scott Moe

Rona’s ‘truly Canadian’ ads are inaccurate, watchdog says

Ads Standards points out U.S.-based Lowe’s acquired Rona in 2016

Brian Burke considered favourite to replace Don Cherry

Brian Burke is the 5-4 pick to be the full-time replacement next season

Major donor Peter Allard takes UBC to court to get his name on all law degrees

Philanthropist claims school not adhering to 2014 agreement for his $30-million donation

Report predicts drug resistance likely to kill 400,000 Canadians by 2050

This increase is expected to cost Canada 396,000 lives, $120 billion in hospital expenses

Most Read