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.

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

Just Posted

‘Let’s Read Together!’ during Campbell River Family Literacy Week 2020

Next week’s plethora of free events culmitate with Inuk storyteller Michael Kusugak at Tidemark

How are you enjoying the snow, Campbell River?

We’re looking for your photos and/or video of what you’re getting up to in the snow today!

Ferry cancellations for Thursday, Jan. 16

We will continue to update this page as more information becomes available

Campbell River schools closed Thursday

SD72 takes unusual step of making announcement Wednesday night

Winter storm warning now in effect for Island’s east coast

Environment Canada issues new weather warning late Wednesday afternoon

Fashion Fridays: Look your best this year

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Oil and gas industry applauds Supreme Court’s dismissal of B.C. TMX case

The high court’s ruling Thursday removes one of the remaining obstacles for the project

Airliner crash a mistake that pleased Iran’s enemies: Supreme Leader Khamenei

Iran’s supreme leader says dowining of Flight 752 was a bitter accident in rare sermon

Sub-zero B.C. weather freezes clothing in just 45 minutes

A local photographer decided to have some fun with the frosty weather before its gone

Special prosecutor to review Cranbrook toddler drowning case

Evidence disclosure at issue in the case of a woman sentenced for criminal negligence causing death

UPDATE: Supreme Court dismisses B.C.’s appeal in Trans Mountain pipeline case

Judges decide whether B.C.’s power to protect environment can include impeding a federal project

10 B.C. cities break temperature records in winter storm

Quesnel dipped to -41.9 C, breaking a record from 1916

Vancouver Island child struck, pinned under SUV while sledding

Boy suffers serious injuries, no charges laid in incident

Most Read