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The ICBC says the reason cited by Zipcar for ending operations in the province at the end of this month is news for the crown corporation.
The car-sharing company, a subsidiary of the American rental company Avis, announced the closure of its Vancouver facility on Tuesday.
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Zipcar cited “local insurance rules,” both in an email to customers and in a later statement attributed to Justin Holmes, the company’s vice president of marketing. “Due to the complexity of operations in the Vancouver market, including local insurance rules, we had to make the difficult decision to leave British Columbia on May 1,” said Holmes.
“The province of British Columbia has a unique insurance structure that was an important factor in our decision to leave,” Holmes said, adding that the company has no plans to cease operations in another market at this time.
Zipcar generally capped member liability insurance coverage at only $ 300,000 per incident. But in British Columbia, where Insurance Corp. of B.C. is the only provider of automobile liability insurance, Zipcar members benefit from $ 2 million in liability coverage, as well as full and collision coverage.