The Insurance Corporation of British Columbia (ICBC) will be discontinuing three temporary measures which reduce policyholders’ insurance expenses - but the insurer also gave assurances that it would continue other financial relief opportunities.
The following changes previously offered by ICBC during the COVID-19 pandemic will expire on August 20, 2020:
CBC News reported that while ICBC will no longer allow unlimited deliveries on non-delivery rate class vehicles, private passenger vehicles will still be permitted to make deliveries up to six days per month.
ICBC will also continue several of its financial relief measures for clients, namely:
The insurer also said in a release that it continues to allow people to renew their insurance via phone or email. ICBC is also permitting customers impacted by the pandemic to delay making payments for up to 90 days without penalty.
The Insurance Bureau of Canada (IBC) has accused ICBC of not offering any insurance premium discounts or reductions to policyholders during the pandemic – when other insurance companies are doing so. IBC also argued that ICBC’s current consumer relief measures were measures other insurers instituted long before the pandemic began, and yet those other insurers still provided additional financial support to their customers.
