In the late 1960’s and early 1970’s, vehicle insurance in B.C. was provided exclusively by private insurance companies. At that time, British Columbians paid among the highest premiums in Canada.

As a result, about 15% to 20% of drivers were uninsured. When these drivers were involved in an accident, the innocent party had no recourse other than the courts to pursue for the damages they suffered.

On March 1st, 1974, when ICBC opened for business, British Columbia became home to the largest vehicle insurer in North America.

Because of the direct link with vehicle licensing, it enjoyed one of the lowest incidences of uninsured drivers. Today, the rate of uninsured drivers in B.C. is about 0.26%.