The Insurance Corporation of British Columbia (ICBC) is a provincial Crown corporation established and mandated by the Insurance Corporation Act, Insurance (Vehicle) Act and the Motor Vehicle Act.i The raison d’etre of ICBC is to provide universal compulsory auto insurance to users in the province of British Columbia. Its rates are regulated by the British Columbia Utilities Commission (BCUC).
Similar to other drivers and vehicle owners in other parts of Canada, motorists in BC are mandated to purchase a minimum level of basic vehicle insurance. This provides motorists with third-party liability protection, underinsured motorist protection and medical/rehabilitation costs coverage. Other services ICBC offers include extended third-party liability, collision, comprehensive and vehicle storage.
Read the entire briefing note here: Agbugba, _Building trust or driving away confidence_ A briefing note on the Insurance Corporation of British Columbia_ (Briefing Note) (1)