WHEREAS fire insurance rates for property owners have increased dramatically in the last few years and the insurance companies have proposed reducing the distance from firehalls for which they provide reduced insurance rates; AND WHEREAS several large insurance companies have amalgamated to restrict consumers competitive choice: THEREFORE BE IT RESOLVED that UBCM request the Province of British Columbia to permit the Insurance Corporation of British Columbia to issue property owners insurance.
Ministry of Transportation Infrastructure The Province supports the role of the Insurance Corporation of British Columbia ICBC in providing Basic compulsory auto insurance coverage to all motorists in British Columbia. Government has no plans to have ICBC operating in any insurance markets other than automobile insurance. Any concerns about the operations of private sector property insurance companies could be brought to an organization such as the Insurance Council of BC, whose mandate is to provide a level of protection to the public pertaining to the sale of insurance products and services under the framework provided by the Insurance Act.