B.C. Attorney General David Eby announces changes to B.C.’s public insurance system, February 2020. (B.C. government)

COVID-19: ICBC’s cancellation fee waivers approved by regulator

Reduced, suspended vehicle insurance available for business

The B.C. Utilities Commission has approved the Insurance Corp. of B.C.’s moves to waive fees and allow insurance cancellation for people and businesses stopped by the COVID-19 pandemic.

The changes allow fleet customers to suspend their basic insurance and obtain a refund, with small business hit particularly hard by restrictions on travel and group events. People are also able to temporarily use their vehicles to deliver food or medical products without added insurance.

The $30 cancellation fee is waived, along with an $18 re-plating fee.

RELATED: Pandemic breaks from ICBC, but no rate reduction

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The utilities commission approved the changes for 60 days, to June 21, 2020, after which ICBC can apply for an extension. The decision followed a virtual oral hearing.


@tomfletcherbc
tfletcher@blackpress.ca

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