ICBC Rate Fairness

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What is this engagement about?

The B.C. government and ICBC want to introduce changes to the current system to make insurance rates more fair for British Columbians by making all drivers more accountable for their decisions and driving behaviour.
The model ICBC uses to help determine insurance rates is more than 30 years old. While it has seen some improvements over the years, it is out of date. This means that right now, some drivers are paying more and some drivers are paying less than the risk they represent.
British Columbians have been saying for years that the system would be more fair if lower risk drivers paid less for their insurance, and higher risk drivers paid more. We agree and we’re looking to make changes to the way insurance rates are determined.
There are several ways to participate:

  • Submit your feedback by email or mail.
  • Complete the online questionnaire

Feedback will be accepted until April 5, 2018 at 4 P.M.

How can my contribution make a difference?

Your feedback will help design an improved auto insurance rating system for British Columbians, help make insurance rates more fair and better reflective of drivers’ levels of risk on the road, and help determine how quickly changes will be implemented.
The consultation public engagement results will also help inform ICBC’s application on Basic insurance rate design to its regulator, the British Columbia Utilities Commission.

Details of the Consultation:

Date: March 5 – April 5, 2018

Status: Open

Location: Province-wide

Category: Government

Type: Online, E-mail, Mail

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