Intact/belairdirect Optional Auto Leaving BC in 2021

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Intact Financial Corporation and their subsidiary belairdirect have announced in a press release on October 27, 2020 that they will be discontinuing their excess (optional) automobile insurance policies in British Columbia in 2021. Intact has stated that this decision is a reaction to the limits on auto insurance industry competition which they expect ICBC's May 2021 changes to bring about, known as "Enhanced Care." Intact will continue to offer home insurance policies, commercial, surety, and more of the products they currently offer, but if you are currently insuring your vehicle for anything beyond the mandatory ICBC Autoplan with Intact or belairdirect, be prepared to shop around for your next insurance term.

The two insurers will cease writing new auto business on December 1, 2020. Renewals will cease on January 1, 2021.

For more information, please see the related press release: 

https://www.belairdirect.com/en/press-releases/leave-car-insurance-bc.html#:~:text=Intact%20Financial%20Corporation%20(TSX%3A%20IFC,automobile%20coverage%20in%20British%20Columbia.&text=Intact%20Insurance%20and%20belairdirect%20will%20stop%20writing%20new%20business%20on,renewals%20on%20January%201%2C%202021.

We expect more changes in BC's private auto insurance market to come.