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.

BC legislatureICBC

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

COVID-19 tests come back negative in remote First Nation community

“There are no suspected cases in the community at this time.”

Wildway Farms open for business in Hagensborg

Local entrepreneurs Gwyneth Anderson and Joseph Battensby are hard at work at their new business

Young boy finds mask stolen during recent break-in

Gage Pootlass immediately took the mouse mask back to its rightful owner, Kathleen Booth

Bear gets into garbage at Thorsen Creek Landfill after waste disposed into wrong bin

A grizzly bear accessed garbage that was put in the wrong bin and ended up outside the electric fence

53 new COVID-19 cases, no new deaths cap off week of high infection rates in B.C.

Roughly 1,500 people are self-isolating because they either have COVID-19 or have been exposed to it

VIDEO: U.S. Air Force pilot does fly-by for B.C. son amid COVID border separation

Sky-high father-son visit plays out over White Rock Pier

3 Vancouver police officers test positive for COVID after responding to large party

Union president says other officers are self-isolating due to possible exposure

New mothers with COVID-19 should still breastfeed: Canada’s top doctor

Dr. Theresa Tam made the recommendation during World Breastfeeding Awareness Week

Collapse of Nunavut ice shelf ‘like losing a good friend:’ glaciologist

The ice shelf on the northwestern edge of Ellesmere Island has shrunk 43 per cent

B.C. wildfire crews have battled 111 blazes in the last seven days

Twenty-nine fires remain active, as of Friday (Aug 7)

‘We don’t make the rules’: Okanagan pub owner says staff harassed over pandemic precautions

‘If you have six people plus a baby, guess what? That’s seven’ - West Kelowna Kelly O’Bryan’s owner

T-Rex earns big bids at B.C. dino auction

Over 500 dino-themed lots sold to buyers from across North America

Remembering Brent Carver: A legend of Broadway who kept his B.C. roots strong

Over the years, the Cranbrook thespian earned his place as one of Canada’s greatest actors

Most Read