Firm hired to put ICBC under the microscope
The province is ready to move forward with a review of ICBC to identify waste, find ways to prevent fraud and overbilling, and identify opportunities for business reform at the Crown corporation.
PwC Canada was selected to conduct an evidence-based operational review to identify opportunities to reduce costs at the insurer, which lost almost half a billion dollars last year.
The review includes selecting 100 random files for a comprehensive review, similar to a financial audit, but directed at business practices and aimed at cutting waste, overbilling and poor cost controls.
A final report will be submitted to government in early 2018 and it will be made public at that time.