ICBC rates could go up by as much as 30 per cent by 2019, a new report warns.
The Ernst & Young report, released Monday, says the average driver could pay up to $2,000 per year, as long as trends persist, the corporation still has to cover its costs through rates, and nothing is done to improve things.
Totally unacceptable!!
香蕉视频直播� Dianne Watts MP (@DianneLWatts)
It points to more crashes, higher payouts for minor injuries, and a rate of claim increase that is going up faster than accident rates.
Attorney General David Eby, who is the new NDP government香蕉视频直播檚 ICBC minister and past critic, wasted no time slamming the BC Liberals香蕉视频直播� record. The NDP has long criticized the BC Liberals香蕉视频直播� handling of the auto insurer, and promised to slow down rate hikes during the 2017 provincial election campaign.
香蕉视频直播淭his report illustrates a situation that must have been apparent to the board and to the previous administration,香蕉视频直播� Eby told reporters in downtown Vancouver. 香蕉视频直播淔or some reasons they failed to act香蕉视频直播� we will act. A 30-per-cent rate increase will not be happening on our watch.香蕉视频直播�
. slams for 'mismanaging' , said they used it as a 'bank machine'
香蕉视频直播� Kat (@katslepian)
香蕉视频直播淭he BC Liberals have been using ICBC as a bank machine, bringing money out of the corporation to claim better finances than are the case.香蕉视频直播�
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The report says accident rates went up by 23 per cent between 2013 and 2016, and that vehicle repair costs skyrocketed to a total of $1.5 billion in 2016.
According to Eby, drivers who aren香蕉视频直播檛 careful on B.C.香蕉视频直播檚 roads might soon have to pay for it.
香蕉视频直播淒rivers should be rewarded for good driving and people who are bad drivers should have to pay higher rates,香蕉视频直播� he said. 香蕉视频直播淢aking them pay more because they are costing the system more just makes sense to us.香蕉视频直播�
. says that will be fair on rates: bad drivers to pay more because they cost the province more
香蕉视频直播� Kat (@katslepian)
But not everything the report proposes interests the new minister, who called photo radar and no-fault insurance 香蕉视频直播渘on starters.香蕉视频直播�
He did not elaborate, but did say he planned to reduce how many claimants felt the need to hire lawyers to deal with ICBC.
High-value cars over $150,000 are also cited as a major reason for higher premiums. Seventy per cent more luxury cars are on the road in 2016 than in 2013.
In late 2016, then-transportation minister Todd Stone announced ICBC would no longer cover cars worth more than $150,000. When a 2016 ICBC insurance forecast showed a potential hike of 42 per cent over the next five years, the agency called the numbers 香蕉视频直播渉ypothetical香蕉视频直播� and 香蕉视频直播減otentially misleading.香蕉视频直播�
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In 2000, the average minor injury claim paid out $8,220, compared to just over $30,000 in 2016 香蕉视频直播� an increase of 365 per cent.
Serious or catastrophic injury payouts, the report notes, increased by only 25 per cent. In total, payouts for minor injuries now cost ICBC more than payouts for serious injuries.
Liberal MLA Andrew Wilkinson called Eby香蕉视频直播檚 response to the report a 香蕉视频直播渃omplete failure.香蕉视频直播�
香蕉视频直播淲e now have a government telling us what they香蕉视频直播檙e not doing to do and has completely failed in telling us what they are going to do,香蕉视频直播� said Wilkinson.
Vancouver-Quilchena MLA Andrew Wilkinson says the new NDP government should have have a plan in place to deal with ICBC 香蕉视频直播� now. Katya Slepian/Black Press
He blamed the recent rise in insurance claims on new, high-tech vehicles with components that are expensive to repair. He said the NDP has known about that and the growing number of claims for years.
香蕉视频直播淲hat I would do with this report is suggest to the NDP it香蕉视频直播檚 up to them to come up with a viable plan for how to face the future on ICBC,香蕉视频直播� said Wilkinson. 香蕉视频直播淲here is the plan that they香蕉视频直播檝e been working on for four years?香蕉视频直播�
. says should have known about issues + have a plan. No answer on what would do though
香蕉视频直播� Kat (@katslepian)
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