Intact to exit this line of business

Canada’s largest insurer announced late Tuesday that its brands Intact Insurance and belairdirect will no longer offer optional auto coverage in British Columbia. 

“This decision was taken after careful consideration, given the upcoming regulatory changes in the province that will reduce competition and limit choices for consumers,” Intact Financial Corporation said in a press release.  

Louis Gagnon, president of Intact Financial Corporation’s Canadian operations, said the insurer believes consumers should have choice and flexibility when it comes to their insurance. “We have been closely assessing the optional automobile insurance market in British Columbia for some time and made the decision to shift focus to our other lines of business and providing enhanced services to consumers.” 

Intact says it wants to maintain a strong presence in BC, and will continue to provide personal property, commercial P&C, surety and specialty insurance to individuals and businesses through its brands. Intact Insurance and belairdirect will stop writing new optional auto business Dec. 1 and renewals Jan. 1, 2021. 

Customers of Intact Insurance can work directly with their broker. Belairdirect customers can visit [1]

Related: Auto insurers, province dispute whether B.C.’s Bill 11 limits competition [2]  

Intact’s comments about upcoming regulatory changes and optional auto allude to Bill 11, Attorney General Statutes (Vehicle Insurance) Amendment Act, which passed third reading July 15. Earlier that month, the Insurance Bureau of Canada (IBC) published an open letter to B.C. Premier John Horgan, outlining concerns that the bill may “stifle the limited competition that currently exists in BC’s optional auto insurance market.”  

Specifically, IBC notes the proposal to create a new mandatory Basic Vehicle Damage coverage, which would only be available through the Insurance Corporation of British Columbia (ICBC).

“This product will provide coverage for vehicle replacement and repair when a driver is not responsible for an accident,” an IBC letter notes. “Today, these repairs can be covered by the third-party liability insurance of the driver responsible for an accident, which is open to choice and competition above ICBC’s basic limits.”

The provincial government, which oversees ICBC, denies that the optional auto market would shrink as a result of the new Basic Vehicle Damage coverage. At the time IBC made its letter public, B.C. Attorney General David Eby said “there will be changes on the optional side without question, including new products that optional insurers will be able to provide British Columbians.” He suggested that private insurers would be able to compete for “products that don’t exist right now, including a wage top-up product,” but didn’t elaborate.

The BC NDP won a majority government in the recent provincial election. Its platform included the previously-outlined[3] insurance model of moving ICBC to a new enhanced care model (estimated to reduce premiums by an average of 20%), while increasing care available for people seriously injured in accidents. The provincial NDP also proposed offering COVID-19 premium rebates to drivers from any surplus ICBC delivers during the pandemic. For its part, the BC Liberal Party had proposed ending the ICBC monopoly. 

Feature image by


  1. ^ (
  2. ^ Auto insurers, province dispute whether B.C.’s Bill 11 limits competition (
  3. ^ previously-outlined (

Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.

Acquire this Domain
You can acquire this site’s domain name! We have nurtured its online marketing value by systematically curating this site by the domain’s relevant keywords. Explore our content network – you can advertise on each or rent vs. buy the domain. | Skype: TLDtraders | +1 (475) BUY-NAME (289 – 6263). Thousands search by this site’s exact keyword domain name! Most are sent here because search engines often love the keyword. This domain can be your 24/7 lead generator! If you own it, you could capture a large amount of online traffic for your niche. Stop wasting money on ads. Instead, buy this domain to gain a long-term marketing asset. If you can’t afford to buy then you can rent the domain.

About Us
We are Internet Investors, Developers, and Franchisers – operating a content network of several thousand sites while federating 100+ eCommerce and SaaS startups. With our proprietary “inverted incubation” model, we leverage a portfolio of $100M in valued domains to impact online trends, traffic, and transactions. We use robotic process automation, machine learning, and other proprietary approaches to power our content network. Contact us to learn how we can help you with your online marketing and/or site maintenance.