Daily Poll: Would you prefer to renew your ICBC policy online?
Credit to Author: Scott Brown| Date: Tue, 19 Nov 2019 15:29:13 +0000
Attorney general Dave Eby says one day British Columbians will be able to renew their auto insurance online instead of visiting a broker but that day isn’t coming soon.
ICBC paid out nearly half-a-billion dollars in broker commissions last year and Eby believes that amount can be reduced through online sales.
However, a seven-year “strategic accord” that ICBC signed last January with the Insurance Brokers Association of B.C. gave brokers the unqualified guarantee that they will remain the “sole distributor of Autoplan.”
“It’s theoretically possible ICBC could establish a free-standing sales department, but I’m not incredibly optimistic that could be achieved in the timeline we want,” Eby told Province columnist Mike Smyth.
What do you think?