With ICBC losing so much money, B.C. managers should adjust to receive an annualized interest rate increase by accepting a notice scheduled for Thursday or Friday.
David Eby is the guy who said that ICBC's bank accounts were burned in a "financial dump" that threatened to cover the entire auto insurance company.
The Attorney General promised to do something to kill the flames. But in the last time it seems that someone threw a pair of tires on the cover and used it all in gasoline instead.
The dump of fire is still raging, and ICBC continues to lose huge sums of money. The recently reported loss of corporations in the first six months of the financial year was a shocking 582 million USD.
This means that the ICBC will lose more than $ 1 billion this year, which would be the second billion dollars plus a loss.
If you want to ask it differently, ICBC is believed to lose more than $ 3 million a day. This means that within four minutes, the ICBC will lose about $ 9,000, so you'll have to read this column.
Something to go on and it will start this week.
A public car insurer should reflect the annual interest rate increase requested when a notice is scheduled for Thursday or Friday.
With ICBC losing so much money, B.C. drivers should adjust to hit the wallet.
Basic car insurance category – mandatory for all B.C. drivers – the maximum allowed increase is 7.9 percent.
The maximum increase is determined by the ICBC 's equalization system, which reduces the annual growth by 1.5 percentage points more than the previous year's increase (6.4%).
ICBC's optional insurance products (such as collision coverage and third party liability) have an unlimited interest rate increase so they can grow.
Like B.C. executives are going to pay more, many are wondering when Ebium plans to finally fire.
The New Year will answer this question.
According to Eby, one of the main causes of ICBC financial hemorrhages is the financial reimbursement of people suffering minor injuries in car accidents.
Court fees for pain and suffering are currently unlimited, and ICBC pays fate: an average of $ 30,000 per case.
The government plans to limit the maximum cost to only $ 5,500, but the cap does not get until April 1, 2019.
For British Columbia personal injury lawyers, this is April's fool's joke that they are angry with steaming.
Lawyers have also ruthlessly advertised a business to get started. Before commencing the fight, advertising by personal injury law firms is steadily rising.
Ebi hopes that payment ceilings and other cost-saving measures will eventually be delivered to the waste bin forever. This would allow a further increase, as it would be even more modest, and would be suitable for the management of the NDP as another electoral approach.
In the meantime, ICBC rates will increase again. Opposition liberals will be angry, but Eby reminds the public that the Liberals used the ICBC as a pig bank that rounded over $ 1 billion from the corporation's money to spend on other priorities.
This is a good return to liberal attacks. But, if Ebys soon shuts off fire, the new Democrats can burn instead.
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