ICBC facing $500,000 in wildfire claims | Canadian Insurance

ICBC facing $500,000 in wildfire claims

Two changes have been made to its wildfire policies in order to make coverage more accessible during this time

The wildfires raging across B.C. have resulted in the Insurance Corporation of British Columbia (ICBC) receiving $500,000 in claims to date.

Many of the 124 claims have been for vehicle damage due to smoke and extreme heat, while some were total losses. Since the wildfires are ongoing, the organization has changed two policies regarding wildfire claims with the purpose of making their auto insurance policies more accessible for wildfire victims:

  1. Comprehensive coverage will still be available to purchase even if it has recently expired. Customers who already have, or have previously purchased, ICBC optional coverage, or who have never insured a vehicle in B.C., will be able to purchase full ICBC optional coverage for their newly acquired vehicle.
  2. Customers who have previously purchased or currently own ICBC optional coverage, as well as those who have never insured a vehicle in B.C., can purchase full ICBC optional coverage for a newly acquired vehicle.

“Our goal is to be as responsive as possible to our customers who are caught in these unfortunate situations. We have insurance and claims experts who are focused on responding to our customers’ needs and supporting our brokers under these trying circumstances,” says Mark Blucher, ICBC’s president and CEO, in a press release.