icbc rate increase

[kaitlyn]

Why is the government protecting and maintaining icbc?
This insurance plan is very expensive as compared to private auto insurance and is set to increase to recover funds taken by our government for other uses.
Of course, private insurance companies can chose who they wish to insure based on previous driving records... and this would leave all the the accident causing drivers out of the loop. and end up paying more.. This is why a lot of citizens do not want it to be private....and the law abiding citizens end up paying for the people that cause accidents etc
personally i drive an older 2002 vehicle and have all of the discounts..... My rate increased 50.00 this year and it was explained that this is due to the amount of fraud that goes on in the car insurance business......... this is not fair at all .
Of course the government wants to keep it as somehow they would have to drum up the funds to pay for icbc pensions plans etc.
Why does icbc have a better fraudulent detection team and citizens fined heavily and jail time is they are found guilty.?
Also, the lawyers know what side their bread has jam on it when they continually advertise to represent people in accidents and they also take a large portion........
i am sick and tired of this socialist attitude.........let the guilty ones bear the brunt

[36Drew]

My rate increased 50.00 this year and it was explained that this is due to the amount of fraud that goes on in the car insurance business......... this is not fair at all .

The very same thing happens with private insurance companies. In fact, it happens in all industries - fraud/theft costs are passed on to the consumer. This is not unique to ICBC in the least.

Of course the government wants to keep it as somehow they would have to drum up the funds to pay for icbc pensions plans etc.

I'm not certain that's true. Various reports have already stated that ICBC would be more than profitable if the government-du-jour would stop pilfering ICBC's bank account to fund general taxes. The NDP and BCLibs have both been guilty of this.

Why does icbc have a better fraudulent detection team and citizens fined heavily and jail time is they are found guilty.?

I presume you mean "doesn't" - as in "Why doesn't icbc...". That's a good question. Perhaps we should be asking those who manage ICBC for a report on just how much fraud occurs with ICBC (for realz, not for feelz....), and how much money is spent on fraud versus the levels of fraud that are being committed. While it's lucrative to spend $50k to collect $100k, it's not lucrative to spend dollars to collect pennies.

In fact, I would like to see a lot more information publicly disseminated about all crown corporations. It's currently sorely lacking.

[dieseluphammerdown]

Being discussed here
https://forums.castanet.net/viewtopic.php?f=26&t=74393&start=45