(Arm: 16, magic level +4, protection earth +11%, fire -2%). Imbuement Slot: 1
They did indeed change it from ice to earth protection, but the bear skin has something that the raiment's doesn't have!
It has one imbuement slot! Which means that if you want to you could imbue it with +15% ice protection aswell with other elemental protections (not earth and fire since it already has those stats). You could even have Life leech on your bear skin!
I am currently using the bear skin on my druid, it has the same +4 magic level boost as the raiments, higher armor value & you could potentially make yourself take much less elemental damage with imbues :)