When the Insurance Corp. of B.C.香蕉视频直播檚 new restrictions on 香蕉视频直播減ain and suffering香蕉视频直播� payouts and court experts take effect April 1, B.C.香蕉视频直播檚 monopoly vehicle insurance system will be 香蕉视频直播渟ubstantially the same as Alberta香蕉视频直播檚香蕉视频直播� but with higher premiums, says a new report from the Insurance Bureau of Canada.
The private insurance group has been lobbying for B.C. to open up basic vehicle insurance to competition, as ICBC struggles with soaring injury claim and legal costs. The B.C. government has imposed sweeping reforms to try to cut costs, as it faces a deficit of more than $1 billion for the fiscal year that ends March 31.
The Insurance Bureau retained to examine auto insurance rates and payouts in Alberta and B.C., for the same vehicles with $1 million third party liability, $500 deductible collision, $250 deductible and uninsured motorist protection.
Report from says once caps on litigation and minor injury payouts take effect April 1, the main difference between BC and Alberta will be the lack of competition here
香蕉视频直播� Tom Fletcher (@tomfletcherbc)
香蕉视频直播淲ith the changes coming on April 1, the auto insurance systems in B.C. and Alberta will be substantially similar, with the key difference being who sells auto insurance in each province,香蕉视频直播� said Susan Mowbray, a manager at MNP. 香蕉视频直播淭hat difference has contributed to drivers in B.C. paying more than their neighbours in Alberta for similar coverage.香蕉视频直播�
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ICBC spokesperson Joanna Linsangan said Thursday the latest changes make the corporation 香蕉视频直播渨ork again for drivers, without losing the virtues of public insurance香蕉视频直播� that include its CounterAttack road checks and operating driver licensing.
香蕉视频直播淣o private insurer invests in police enforcement, road safety improvement projects and makes sure that anyone who gets a licence in B.C. is safe to drive,香蕉视频直播� Linsangan said. 香蕉视频直播淣o private insurer could come into B.C. and offer the rates they offer in Alberta. Our system and cost pressures are very different and the levels of coverage provided to British Columbia far outweigh those in other provinces.香蕉视频直播�
The levels of coverage provided to British Columbians outweigh those in other provinces. Our medical care benefits are six times those offered in Alberta, and as of April 1 our wage loss payment will be almost double. ^jl
香蕉视频直播� ICBC (@icbc)
ICBC has argued that higher accident rates are an issue across North America, despite safety improvements to roads and vehicles.
Attorney General David Eby says B.C. is not considering going to a no-fault insurance system, and the adversarial court method is being retained for major injuries. Another change taking effect April 1 diverts minor injury claims to an administrative tribunal.
Those changes will affect about 80 per cent of injury claims, and have sparked a legal challenge from the Trial Lawyers Association of B.C., arguing the court香蕉视频直播檚 independence is being affected.
tfletcher@blackpress.ca
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