Lessors will need to contact the lessee directly to confirm vehicle coverage or confirm coverage on vehicles they own through CGI’s reporting service. ICBC has entered into an exclusive agreement with CGI. ICBC provides leased vehicle coverage information to CGI, and they in turn provide an updated report to subscribed lessors, every two weeks.

In this report, subscribed lessors will be able to view all of their vehicles that have ICBC coverage. If a vehicle has no coverage (i.e., the policy was cancelled), it will not appear on the report.

ICBC has entered into an exclusive agreement with CGI to which lessors can sign up for reporting services directly with CGI. Lessors can also choose to add a broker agency as a user on their CGI account to run a report from CGI on the lessor’s behalf. CGI encourages lessors to sign up for services early to ensure they are able to continue to monitor coverage on their vehicles.

ICBC and brokers are not a party to the lease agreement and the lessee is the policyholder; as such, any coverage requirements will be the responsibility of the lessee. As a best practice, you may recommend the lessee review their lease agreement with their lessor prior to reducing coverage or cancelling their policy.

For policies with an effective date on or after January 6, 2025, the lessor is no longer the policyholder and cannot make coverage changes to or cancel the insurance. The lessee will be the policyholder and is the only party that can make coverage changes or cancel the vehicle insurance.

Lessors will continue to be the registered owner of the leased vehicle and, as such, the vehicle cannot be sold or transferred, except by the lessor.

Yes. For policies with an effective date on or after January 6, 2025, the lessee, rather than the lessor, will be the vehicle licencee and the insurance policyholder. The lessee will be able to purchase, make changes, renew and cancel the insurance for the vehicle they are leasing, without prior authorization from the lessor. This includes removing coverages and policy cancellations.

No. On and after January 6, 2025, if a lessor wants to confirm coverage without contacting the lessee directly, lessors can do this using the reporting service available through CGI. Lessors can also choose to add a broker agency as an authorized user on their CGI account to run a report from CGI on the lessor’s behalf.

Regardless of the policy effective date, brokers may not provide documentation to lessors such as lessee policy re-prints as coverage confirmation. Brokers may not provide verbal confirmation of coverage to lessors regardless of the policy effective date.

The reporting arrangement does not affect lessors’ ability submit an Own Document Request to ICBC which can provide documents within the last three years. The request requires:

• A $10 fee

• A written request form

• That certain lessee-specific information will be redacted

After extensive analysis, ICBC concluded that CGI is the best service provider that can distribute the report to lessors using reliable data sharing methods combined with industry leading strong cyber-security practices and procedures. We are confident in CGI’s ability to provide lessors with the information they need to monitor insurance coverage.

We are committed to reviewing how the change is working for lessors and will be monitoring the effectiveness of the reporting, especially in the first 90 days of 2025, to determine if any future reporting improvements should be considered. Please send any feedback to [email protected].