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Here in British Columbia, our provincially owned insurer (ICBC) saved significant money because of fewer claims during Covid. They even issued a rebate to most
by lm411 3y ago
Here in British Columbia, our provincially owned insurer (ICBC) saved significant money because of fewer claims during Covid. They even issued a rebate to most drivers. Though they also noted losing some revenue due to fewer or lower premiums being paid. The amount saved was far greater.
https://assets.ctfassets.net/nnc41duedoho/BNR4qtOTGPJuyQADtK5u9/405b9ba73ff89f10787d97b5f0402c89/impacts-of-covid-19-q1.pdf https://assets.ctfassets.net/nnc41duedoho/BNR4qtOTGPJuyQADtK...
I wonder if the difference was largely because of Canada's more strict lock downs. The roads were nearly dead here for quite awhile.
- Scoundreller 3y agoAnd Canadian auto-parts prices are through the roof anyway. If there's a factory-gate price increase/supply issue, there's room for margin compression instead of raising prices. Maybe?
- lm411 3y agoI'm with you on that 100% Scoundreller.