B.C. teen forced to pay annual ICBC bill worth three times the cost of her car

BY AND

A 19-year-old Cranbrook resident is the latest to speak out about skyrocketing ICBC rates for young drivers.

Jade Sharp says she needs her car for college and work, but she fears she can’t afford it anymore. Insurance on her car has skyrocketed, with the monthly bill up almost 40 percent.

“I used to pay $180 and now it’s $250,” Sharp said. “It’s completely outrageous.”

When calculated annually, Sharp’s bill comes to roughly $3,000 — three times what she paid for her used car.

The teen says she’s been driving for almost four years and is accident-free. But under ICBC’s new rate structure, that record no longer counts towards an experience discount.

Sharp’s mother Amanda Riddell is calling ICBC’s revamped model “selfish.”

Sharp is the latest B.C. teen to come forward saying they’re being unfairly punished by ICBC for their relative lack of experience.

BC Liberal critic for ICBC Jas Johal has criticized the province for the rate changes, and said this latest case represents a larger problem.

“They’re starting out their lives, they’re going to school, part-time jobs, and now in this case they get hit with a $3,000 insurance bill for a car that’s worth $1,000?” he said. “This is ridiculous.”

ICBC is continuing to defend its rates, noting younger drivers are three-and-a-half times more likely to cause a crash.

Spokesperson Joanna Linsangan says there are ways for those young drivers to save money, particularly if their vehicles are of lower value.

“For some people who do have low value vehicles, one thing that many do consider is dropping collision coverage,” Linsangan said.

ICBC’s president and the province have said they are continuing to work towards making auto insurance less expensive for everyone, including younger drivers.

Sharp says she’ll keep struggling to pay her new monthly rate, but she’s not sure how much longer she can keep it up.

“Just because there’s a few young drivers or older drivers who aren’t the greatest at driving, or being safe at driving, it doesn’t mean I deserve to be punished for that,” Sharp said.

Source: Global News

“The best advice I can give on getting the best rate is, be a safe driver,” said Pete Karageorgos, head of consumer and industry relations at the Insurance Bureau of Canada.

Read more

Navacord’s Banner Year Continues With the Addition of Hoffmann Kool Insurance & Life Line Insurance

Navacord Corp., a leading insurance and risk management brokerage, is pleased to announce their strategic expansion in Saskatchewan with the addition of Hoffmann Kool Insurance and Life Line Insurance, effective October 1, 2019.

Both Hoffmann Kool and Life Line have proudly served the business, personal and life insurance needs of Saskatchewan communities for over thirty years. Located in Saskatoon, both offices will remain under the management of their current leadership teams.

“With eleven partnerships announced so far in 2019, we have tripled our business in five short years,” said T. Marshall Sadd, Executive Chairman of Navacord. “We are pleased at how our business model resonates with brokers and consider 2019 to be a banner year.”

“We are tremendously excited about the opportunity to join Navacord,” said Darryn Knibbs, President and CEO of Hoffmann Kool and Life Line Insurance. “Our desire was to remain an independent business but have the benefits of being part of a bigger, national broker. This is exactly what we are achieving by joining Navacord.”

This marks the second Broker Partner announcement in one week, following the addition of Vancouver Island-based Waypoint Insurance Services.

“Navacord is excited to be expanding in Saskatchewan as we focus on building the business in the province,” said Shawn DeSantis, President and CEO of Navacord. “Hoffman Kool and Life Line strategically expand our geographic footprint and increase our expertise in the province. We look forward to working with the Hoffman Kool and Life Line teams.”

About Hoffmann Kool Insurance

Hoffmann Kool Insurance has been providing a broad range of Personal and Commercial Insurance Products and Motor Vehicle Licensing for over 30 years. They pride themselves on being Saskatoon’s locally owned insurance experts who work hard to take care of their clients. Their team strives to deliver an exceptional client experience through their knowledge, technical expertise and friendliness. They know insurance can be a bit confusing which is why they help to make things clear.

About Life Line Insurance Brokers

Life Line Insurance Brokers has been providing their clients a wide selection of products and services in Saskatoon and throughout Saskatchewan for over 40 years. The Life Line team work hard to ensure clients receive affordable, understandable insurance options from advisors who have earned their trust to help them at every stage of their life.

About Navacord

Headquartered in Toronto, Navacord’s group of companies include Broker Partners across Canada and Specialty Managing General Agents. Offering risk management and consulting solutions, Navacord is committed to the success of their clients and delivering expert advice in an increasingly complex world. Broker Partners deliver local, personalized service to their clients while being supported by the additional expertise, resources and efficiencies of a national brokerage. Navacord is the preferred partner for entrepreneurial insurance brokerages seeking to collaborate and grow while maintaining their unique identity and culture.

Chubb Charity Challenge Approaches the $17 Million Mark Over 20 Years of Charitable Giving

Annual Golf Tournament Series Raises Nearly $1 Million for Second Consecutive Year, with Two Charities Receiving Top Prize of $50,000

WHITEHOUSE STATION, N.J., Oct. 3, 2019 /CNW/ — Last week, forty-five teams from across North America – the winners of regional golf events held throughout the year – competed in the 20th annual Chubb Charity Challenge tournament finals, held September 22-25 at The American Club in Kohler, WI. This year, two teams tied for first place and were crowned champions of the annual event: Lloyd Sadd Insurance Brokers (Lloyd Sadd), playing on behalf of Little Warriors; and IMA Select, playing on behalf of Hillcrest Ministries of MidAmerica, Inc. Each of the winning teams will present a $50,000 check to its chosen charity.

In total, more than 300 teams participated in the 2019 Chubb Charity Challenge, raising nearly $1 million this year for charities across the U.S. and Canada. Every team that participates in the tournament finals wins money for its charity. The amount each team wins depends on where they finish among the field upon conclusion of the two-day finals tournament.

“The Chubb Charity Challenge is an important annual tradition that underscores Chubb’s commitment to giving back to the communities where we live, work and serve,” said Chris Maleno, Division President, Chubb North America Field Operations. “As we celebrate its 20th anniversary, Chubb recognizes and thanks our network of brokers and agents that has participated in the Chubb Charity Challenge over the last two decades and contributed to its success – raising nearly $17 million to-date for worthy causes throughout North America.”

The Chubb Charity Challenge invites agents, brokers and clients to golf in regional tournaments hosted by local Chubb branches. Competing on behalf of their selected charities, the winning team from each regional tournament advances to the national tournament.

According to T. Marshall Sadd, executive chairman of Lloyd Sadd, winner of the Calgary regional, “Little Warriors, based in Edmonton, AB, is a charitable organization committed to the awareness, prevention and treatment of child sexual abuse. It is incredibly rewarding for our company to win $50,000 for a charity that is doing so much good within our community, and we are so appreciative of Chubb for this opportunity.”

The other winning team – IMA Select, winner of the Kansas City regional – played for Hillcrest Ministries of MidAmerica, Inc., which provides transitional housing and other programs that combat homelessness.

“This donation will help make a tremendous difference in Hillcrest Ministries’ ability to serve families in need,” said Jason Bottorf, Kansas market leader for IMA Select. “Words cannot describe how proud and honored we are to be able to deliver a check for $50,000 to this worthy cause. We are so thankful to Chubb for hosting this event and creating this platform for us to give back to our community.”

To find out more information about the Chubb Charity Challenge, including highlights of participating teams and the charities that have benefitted, visit chubb.com/CharityChallenge.

About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: chubb.com.

Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.

SOURCE Chubb

Related Links

https://www.chubb.com/us-en

Women’s hockey in Canada receives a multimillion-dollar boost

Hockey Canada is trying to fill the gap left by the collapse of the Canadian Women’s Hockey League and it’s getting a multimillion-dollar boost from BFL Canada, a Montreal-based insurance company.

The company, which is a longtime supporter of women’s hockey, announced Tuesday it will become the title sponsor of training, evaluation and selection camps for the Canadian national women’s team, the national development team and the women’s under-18 team.

BFL president Barry Lorenzetti, a former chairman of the Hockey Canada Foundation, said his company was making a five-year commitment to programs that range from elite athlete and coaching development to grassroots programs.

“We’ve added series of mini-camps in Montreal and Toronto so that our national team players have an opportunity to play,” said Gina Kingsbury, a two-time Olympic gold medallist  who is the director of the women’s team for Hockey Canada. “I think by adding more camps we’re going to minimize the effect of not having our players competing every week. I do think it’s an opportunity to embed our vision and build chemistry on and off the ice You always have to look at this in a positive light, (but) we’d much rather have our athletes plying in a league.”

Most of the top Canadian players competed in the CWHL, which folded in the spring. Many players are hoping NHL clubs will jump in with significant financial help, but that assistance hasn’t been forthcoming. Top players like Marie-Philip Poulin, Lauriane Rougeau and Mélodie Daoust have joined the Professional Women’s Hockey Players’ Association, which has organized a series of Dream Gap showcases.

From left, Caroline Ouellette, assistant women’s hockey coach at Concordia University and Women’s Hockey Canada, Danièle Sauvageau, Team Canada alumna and general manager of the Université de Montréal women’s hockey team, Barry Lorenzetti, president and CEO of BFL Canada, and Gina Kingsbury, Hockey Canada’s director of women’s national teams, announce partnership between BFL Canada and Hockey Canada. JOHN MAHONEY / MONTREAL GAZETTE

“We had a very good response last weekend in Toronto and we have events coming up in New Hampshire and Chicago,” said Daoust. “We hope to have one this winter here in Montreal.”

Unifor, the largest private sector union in Canada, is a title sponsor of the tour, while the NHLPA, Budweiser and Tim Hortons have also provided support.

BFL Canada has also established the female coaches of the year awards, which will honour elite and grassroots coaches from each province and territory as well as national winners. The company will also serve as the title sponsors for the IIHF World Girls’ Hockey Weekend, Oct. 4-6, as well as the IIHF Girls Game in February. BFL will also be a partner in the women’s world championships, which will be played in Halifax and Truro, N.S., in April.

Navacord’s local touch expands by 18 offices in B.C. with Waypoint Insurance, the largest, independently owned brokerage on Vancouver Island

Read more

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from ILSTV

You have Successfully Subscribed!

Pin It on Pinterest