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ICBC says Zipcar’s stated reason to cease operations in the province at the end of this month is news to the Crown corporation.

The car-sharing company, a subsidiary of the American rental company Avis, announced Tuesday it was closing its Vancouver operation.

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Zipcar cited “local insurance rules,” both in an email to customers and in a subsequent statement attributed to Justin Holmes, the company’s vice-president of marketing. “Due to the complexities of operating in the Vancouver market, including local insurance rules, we’ve had to make the difficult decision to exit British Columbia as of May 1,” said Holmes.

“The province of British Columbia has a unique insurance structure which was a significant factor in our decision to leave,” Holmes said, adding that the company has no plans to cease operations in any other market at this time.

Zipcar typically caps liability insurance coverage for members at just $300,000 an incident. But in B.C., where the Insurance Corp. of B.C. is the sole auto liability insurance provider, Zipcar members receive $2 million in liability coverage, as well as comprehensive and collision coverage.