Quote:
Originally Posted by undercoverbrother
I thought ICBC only provided Auto insurance, I am not 100% sure but think SGI Property insurance is private and I don't know about MPI.
Does the Government make property insurance mandatory? I don't think they do. I think banks make it mandatory if you have a mortgage.
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That makes sense and it would explain the difference in the two graphs. The public auto insurance in BC wins that graph and the private home insurance in BC is middle of the pack.
It does still suggest that the best path forward is to create public insurance options and undercut the market. Perhaps a federal public insurance option to cover the whole country would be the solution so that the differences between jurisdictions is eliminated.
A federal insurance company would be an interesting argument for bringing down the trade barriers between provinces.