The British Columbia government is directing changes for the Insurance Corporation of British Columbia (ICBC) to bring about an end to its financial crisis, while keeping rates affordable for B.C. drivers. Today’s changes come in the wake of a projected … Continue reading →
–ICBC media release, January 28 2018 ICBC has today posted a net loss of $935 million for the first nine months of our current fiscal year (April 1 to December 31, 2017). This is obviously a sizeable and significant loss, and is further … Continue reading →
At a 70s themed press conference, the Canadian Taxpayers Federation (CTF) highlighted newly analyzed data showing that drivers in British Columbia now officially pay the highest auto insurance rates in Canada. The Ernst & Young data shows that in 2016 … Continue reading →
The British Columbia government is limiting ICBC rate increases for drivers, while embarking on a multi-year plan to fix the public insurer’s financial crisis, Attorney General David Eby announced today. Eby said there will be a 6.4% basic-rate increase this … Continue reading →
According to a new survey completed by Insights West, most drivers say that driving in the province has gotten worse in the last five years–pointing at bad driving behaviours as one of the top contributors to B.C.’s road problems. Respondents … Continue reading →
Today, Attorney General and Minister Responsible for ICBC David Eby said that the provincial government is committed to fixing systemic financial problems at ICBC to make life more affordable for British Columbians. As one of his first actions as minister … Continue reading →
Unless something significant is done, the average driver will have annual ICBC annual premium (Basic and Optional) auto insurance payments of almost $2,000 by 2019. This represents an increase of 30% over today’s rates. In 2016, Todd Stone requested an independent … Continue reading →
ICBC is updating basic insurance to increase the accountability of drivers who cause crashes by changing how much an at-fault crash affects their basic insurance rates. This will help to alleviate the pressure on future rates paid by customers who don’t … Continue reading →
ICBC continues to fight insurance fraud in 2017, with a new education campaign to support its increased fraud prevention efforts. Following December’s news that ICBC had generated its first results from a new high-tech tool which will help identify and … Continue reading →
–SPN News According to ICBC, they have applied for a rate increase to basic insurance costs. ICBC submitted its 2016 basic rate application with the British Columbia Utilities Commission, asking for a 4.9 per cent increase to basic insurance rates. … Continue reading →
