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B.C. government asking for public feedback on ICBC rates

Should bad drivers have to pay more for car insurance? The B.C. government wants to know what you think.
ICBC rates
The province wants to know what B.C. drivers think about changes to ICBC's rating system with the aim of making drivers more accountable for their decisions and driving behaviours. Photo Dan Toulgoet

Should bad drivers have to pay more for car insurance? The B.C. government wants to know what you think.

The province Monday launched public engagement regarding changes to ICBC’s auto insurance rating system aimed at making drivers more accountable for their decisions and driving behaviours. The current system has been in place for 30 years and has not been updated in the last decade.

“Drivers have been saying for years that the system would be more fair if low-risk drivers paid less for their vehicle insurance, while high-risk drivers paid more,” Attorney General David Eby said in a press release. “This engagement is one way government is giving drivers the power to shape ICBC and restore public confidence in our public insurer.”

British Columbians can provide feedback on how ICBC should use claims and driver experience in determining basic insurance premiums, giving greater discounts to low-risk drivers and balancing basic insurance prices to reflect increased risk with driver behaviour or location.

In January, Eby called the ICBC’s situation a “financial dumpster fire” after the company posted a net loss of $935 million in the first nine months and a projected $1.3-billion loss by the end of the fiscal year. He promised major reforms to make the insurance company financial sustainable and keep rates affordable.

And last month Eby announced the first wave of changes, including limiting pain and suffering awards for minor injuries to $5,500 and the institution of a dispute resolution process for certain types of claims in an effort to reduce legal costs.

“Government wants to hear the voices of everyone during the engagement,” Eby said. “I hope British Columbia drivers will take some time to learn about these proposals and let us know their opinions.”

Residents can have their say at engage.gov.bc.ca/ratefairness until 4 p.m. on April 5.

@JessicaEKerr

jkerr@vancourier.com