Insurance Corporation of British Columbia

Insurance Corporation of British Columbia

Company type	Crown corporation
Industry	Insurance
Founded	1973; 51 years ago (1973)
Headquarters	North Vancouver, British Columbia , Canada
Products	Vehicle insurance
Revenue	5.52 Billion CAD (2021) [1]
Net income	1.538 Billion CAD (2021) [1]
Owner	Government of British Columbia
Number of employees	5,200 [2]
Website	icbc.com

The Insurance Corporation of British Columbia (ICBC) is a provincial Crown corporation in British Columbia providing vehicle insurance. ICBC was created in 1973 by the NDP government of Premier Dave Barrett.

By law, any vehicle registered and driven or parked on public streets in British Columbia must be covered by ICBC's basic insurance package, which can be purchased from independent brokers across the province. This basic coverage, called "Autoplan," includes protection from third party legal liability, under-insured motorist protection, accident benefits, hit-and-run protection, and inverse liability (which provides compensation if a driver is involved in an accident in jurisdictions that forbid drivers from recovering losses incurred from a driver who is at fault in the accident).