Minister announces ICBC rate increases
The province has announced ICBC rate increases for drivers and other measures to get the costs of the Crown under control.
Attorney General David Eby says there will be a 6 point 4 per cent basic-rate increase this year but optional insurance rates will also be increased by as much as 9 point 6 per cent, depending on the age of the vehicle, value and use of a vehicle, and where it is being driven….
Other measures include rolling out 24-hour red-light cameras at high-collision intersections, and a pilot program of new technologies to eliminate distracted driving among high-risk groups.
The province will also be doing an operational audit of ICBC.
Eby says ICBC had their largest financial loss in the organization’s history last year, losing more than half-a-billion dollars in 12 months.