EDMONTON, Aug. 12, 2019 /CNW/ - Insurance Bureau of Canada (IBC) today welcomes news that the Alberta government will begin allowing drivers to use electronic pink slips as proof of insurance, effective immediately.
IBC Vice-President, Western, Celyeste Power, said, "The insurance industry supports any changes that help make insurance easier and more accessible for drivers. The government understands consumers deserve a 21st century insurance product, and we look forward to continuing to work with the government to bring more choice and innovation to Albertans."
Alberta now joins Nova Scotia and Newfoundland and Labrador as the only Canadian provinces allowing drivers to show proof of insurance on their smartphones. Most U.S. states also allow digital proof of insurance, and we anticipate more provinces will follow suit. This change improves the auto insurance experience for consumers. Electronic commerce is available to consumers of most other types of business in the financial sector, such as banking, and IBC believes it should be available to consumers of insurance as well.
The insurance industry is over-regulated, having to abide by more than 525 regulatory provisions. IBC supports the Government of Alberta's efforts to cut red tape and promote innovation.
Power added, "This is an excellent first step and shows that this government is clearly committed to cutting red tape for the benefit of Albertans. We look forward to working with the government on other common-sense measures that will improve the auto insurance system for Alberta's 3 million drivers."
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 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: Steve Kee, Director, External Communications, 416-362-2031 ext. 4387, [email protected]