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  September 5, 2001
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Home > Company Index > Insurance > Property & Casualty Insurance > Insurance Corporation of British Columbia

Insurance Corporation of British Columbia
 PROFILE
What if your insurance company could take away your driver's license? It "can" in western Canada, where Insurance Corporation of British Columbia (ICBC) is the province's mandated auto insurance provider "and" operates its motor vehicle department. In 1973, the provincial government formed the insurer, which also provides safety training, licensing, fine collection, and maintenance of driver records. The average policy costs under $600, with no distinctions made based on age or sex. Of course, bad drivers are penalized, and drivers whose vehicles have anti-whiplash devices get a discount. Facing stiff competition in the auto insurance business, ICBC is cutting some 10% of its workforce (some 700 people) by the end of 2001.

 COMPETITION
Economical Mutual Insurance Company (dossier)
State Farm Insurance Companies (dossier)
Wawanesa Mutual Insurance Co. (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 2,292.30
1-Yr. Sales Growth: 1.8%
Employees: 6,198
Revenue per employee: $369,845.11

 KEY PEOPLE
• Thom Thompson
    CEO
• Isabel Meharry
    CFO

 CONTACT INFO
151 W. Esplanade
North Vancouver British Columbia V7M 3H9, Canada
Phone: 1-604-661-2800
Fax: 1-604-661-2896
Online: Web Site

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