VANCOUVER, Sept. 19, 2019 /CNW/ - Today, a new campaign called "Driving Choice," has been launched to provide British Columbians with a voice to demand more choice in auto insurance. The campaign provides the facts about how auto insurance works in other provinces and looks to dispel the myths being spread by those seeking to maintain the status quo with the Insurance Corporation of British Columbia (ICBC).
Under ICBC's monopoly, BC drivers pay the highest auto insurance rates in Canada, yet receive the same amount in benefits when they make a claim. At the same time, ICBC has lost more than $3 billion in the last three years alone, depriving the provincial government of funding that could be better invested in healthcare, education, and social services.
That's why Driving Choice is giving a voice to British Columbians, so that they can let their Member of the Legislative Assembly (MLA) know that they want change and that they want choice in auto insurance.
A better future is possible, one where insurers compete on a level playing field so that drivers can choose the company that delivers the best coverage at the best price. It's a choice most other Canadians enjoy, and British Columbians deserve.
"Driving Choice gives a voice to the overwhelming majority of British Columbians who want more choice in auto insurance," said Aaron Sutherland, Vice-President, Pacific, IBC. "Under ICBC's monopoly, British Columbians pay more for auto insurance than anyone else in Canada, and are denied the benefits of choice and competition. It's time to let drivers shop around, find savings, and choose the auto insurer that's right for them."
- Review the report on how competition can save BC drivers up to $325 annually: Benefits of Competition in the Provision of Automobile Insurance in BC
- Comparison of Auto Insurance in BC and Alberta
- The vast majority of BC drivers want choice in auto insurance. Read the poll: Auto Insurance Attitudes in BC
About Driving Choice
Insurance Bureau of Canada is supporting Driving Choice because auto insurers are eager to compete dollar-for-dollar with ICBC. They believe they can sell the same auto insurance for less and save drivers money. Why not let them? Change will only occur if drivers – and taxpayers – make their voices heard. Speak up and demand choice from your MLAs.
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 128,000 Canadians, contributes $9.4 billion in taxes and has a total premium base of $59.6 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @IBC_West and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC (1-844-227-5422).
If you require more information, IBC spokespeople are available to discuss the details in this media release. To schedule an interview, please contact:
SOURCE Insurance Bureau of Canada
For further information: Vanessa Barrasa, Manager, Media Relations, 416-362-2031 ext. 4312, [email protected]