Panel data provided by Madison's Canadian Lumber Reporter.

Cheque is in the Mail...ICBC to Issue Some Refunds

By Elaine Macdonald

About 900,000 B.C. drivers will be getting a refund cheque later this summer from ICBC.  The insurance corporation says the average refund will be in the  range of $37 dollars, although some will get more, and others will get less.

The refunds  reflect new rates, which ICBC says are the result of  fewer claims, and cost efficiences.  Although, it must be noted, ICBC has recorded huge profits in the last couple of years.

Those getting refunds, are generaly the "road star" drivers, who have a better driving records, but there will also be some rate increases as ICBC  has taken anotherlook at some areas.  For example, motorcycle rates will be higher  in the Fraser Valley to reflect the claim rates there. 

Drivers wanting more information can call this number, 1-866-864-3111, but don't expect to speak to an agent, that information line is for recorded info only.  ICBC also advises your  local agent can't give you any information on how much money you might get back, as refund amounts "will be calculated at mailing time".

  

Previous Story - Next Story



Return to Home