The main cause of ICBC increases in mismanagement and ineptitude, and the Provincial Government.

ICBC has over $30 Billion in investments, and has transferred over $1.5 Billion to the Government in the past 10 years.

The concept of ICBC is good. The management, and interference by the Government is bad.

I think that people should start a petition to stop this increase and put pressure on ICBC and the Government to clean up their act.

The thing is, if they are successful in reducing fraudulent claims, get people to drive better etc., it will have no effect on our premiums. Every year the province pencils in how much the dividend from ICBC is going to be. If ICBC is more profitable due to reduced costs, then that dividend goes up, less profitable, then ICBC rates go up to get the dividend where they need it.

I get it that government will get revenue from somewhere, but seems to me car insurance now contains a defacto tax portion. And technically it’s a regressive tax.

All drivers, regardless of income level, pay the same basic insurance – actually young drivers probably pay a lot more because of no safe driver’s discount. So when the government collects that dividend, part of it comes from people making $10.45 an hour who can barely keep their beater on the road, and for them, it’s probably more like $70.00 a year.

Run ICBC like an insurance company, where policy holders are rewarded for good driving by lower premiums, and if you want to tax, do it directly, instead of this indirect B.S. using Crown Corporations.

Dam I did not get a 5.5% increase in my Pension in the last 5 Years..

Now wait for the spin-cycle from ICBC, claiming rates have been reduced by 1.2%.

Instead of focussing on fraud prevention they should focus on keeping money out of BC Gov general revenue. That’d save them a lot more.

#nonewtaxes right BC Libs?

That’s a 30% increase in ICBC rates since Princess Barbie took office. Anyone get a 30% increase in their revenue since 2011?

Good luck with the your fraud prevention. Who knows maybe it will work and we will see a 30% decrease. Too bad crime stoppers did not cover this area as well. Because it really is a crime.

Might be time for a public audit of ICBC. How much does their CEO, administrators and staff get paid? They have their own doctors, lawyers and advisors on staff. These should be reviewed too. Rate hikes keep rolling in, but are accidents on the rise? Time for some real truth as to the handling and direction of ICBC’S finances before tacking on more money to our rates.
If rate hikes are truly needed, then traffic enforcement needs to be paramount. Never need to look far in order to witness driving infractions. Raise fines and double enforcement, bring back photo radar too if that is what it takes. Let the bad drivers pay for rate hikes.

And I would like to see those who have gotten large payouts not to feel safe either. There should be no time limit on this fraud. About time a government has stepped up to the plate here. Maybe it will result in no charge for insurance for a year or two.

Slight mistake on ICBC Investments. I said $30 Billion its actually $13 Billion as of 2013.

If ICBC was just an insurance company rates would still be low..but since it’s used as a cash cow we are all being screwed.. It’s a slick way for Christi to gouge us for more but not with a tax hike..

P Val, I’m pretty sure that ICBC has been a cash cow for previous NDP Governments as well! That is, unless you have information that suggests otherwise!!

Did I say it was only liberals..no.. But read into it what you want dude

If we need to save money why are they still insuring really bad drivers? I watch Canada’s Worst Driver and we have a few BC drivers with MULTIPLE accidents that still have licenses. What’s with that?

They do not relate accidents to bad driving, only infractions. That is were the problem lays.

They announce a predicted increase ( 6.7% ) early in the year, then when it’s time to confirm the increase, it is lower ( “only 5.5%” )
In my opinion, ICBC is playing with us.
I believe that they are hoping we will be happy that the increase is lower than predicted. I am a long time ICBC “customer” with very few claims over the years, thus am in the maximum discount bracket, at 5.5%, the increase in my yearly ICBC bill will be much more than $44.40.
The mythical ‘average customer’ must drive something old and cheap.’
metalman.

go after the fraudsters instead of paying them out. I am all for paying for private investigators frying these thieves. This cost would be a fraction of what the goverment removes from the revenue and ends some of the scum from profiting.

Maybe stop building such ridiculous shiny new buildings, that look like museums, and pass the savings onto BC drivers?

More than 3 accidents you should be forced to put 4 large florescent stickers on all sides of your vehicle. This way we could avoid them or turn them in for bad driving, shame might force them off the road.

ICBC exists within a political culture of raising premiums and making it appear that things will become unaffordable. The end goal of the Liberals is to privatize vehicle insurance so they need to have premiums rise to a point where the public say that they no longer want public insurance. This is an issue that the provincial government needs to deal with and they need to ensure that all efforts are made to keep ICBC rates affordable. There is nothing in the article that justifies a significant rate increase as there has been vast money spent to make highways safer to drive on.