VANCOUVER, Oct. 8, 2019 /CNW/ - Driving Choice is pleased to announce that the Canadian Federation of Independent Business (CFIB) has joined as a partner of the campaign calling for more choice and competition in auto insurance in British Columbia (BC).
Like most drivers, business owners are fed up. A recent survey of independent businesses in BC found 75% want ICBC's monopoly to end. They want a choice in where they buy auto insurance and want to have the ability to shop around to find savings ? just like the vast majority of other Canadians.
"It's time drivers and small businesses in British Columbia had the ability to choose the auto insurance provider that's right for them," said Aaron Aerts, Western Canada economist with the CFIB. "The Driving Choice campaign is a great initiative that gives businesses and drivers a voice to spur meaningful change in the province. It's time for ICBC to compete for its business."
CFIB joins more than 5,000 British Columbians who have already signed on in support of the Driving Choice campaign since its launch in mid-September.
"The overwhelming majority of drivers in BC have stated clearly that they want more choice in auto insurance," said Aaron Sutherland, Vice-President, Pacific, Insurance Bureau of Canada. "With CFIB joining the Driving Choice campaign, it's clear small businesses want the same."
Under ICBC's monopoly, BC drivers pay the highest auto insurance rates in Canada, yet receive a level of benefits similar to drivers in other provinces when they make a claim. In Alberta, drivers pay over $500 less on average for the same level of coverage.
While the BC government is reforming the product, ICBC is still projecting that it will raise rates by $1.74 billion over the next three years. Driving Choice is giving British Columbians a voice so they can let their MLAs know they want choice in auto insurance.
About Driving Choice
Driving Choice is a non-partisan campaign seeking to provide a voice to British Columbians who want more choice in auto insurance. Canadian auto insurers are eager to compete dollar-for-dollar with ICBC and believe they can sell the same auto insurance for less. If other auto insurers could save drivers money, why not let them? Change will only occur if drivers ? and taxpayers ? make their voices heard. Join Driving Choice and speak up to demand choice from your MLAs.
About Canadian Federation of Independent Business
The Canadian Federation of Independent Business (CFIB) is Canada's largest non-profit organization devoted to creating and supporting an environment where business can succeed. Since 1971, the organization has advocated on behalf of small businesses with politicians and decision makers.
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.
SOURCE Insurance Bureau of Canada
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