Another ICBC rate increase

[Rwede]

The NDP started the practice of syphoning money from ICBC in the 1990s.

Doesn't matter if it's the corrupt Liberals or the incompetent NDP, they all suck us dry by doing it.

http://www.pittmeadowstoday.ca/governme ... ydro-till/

[just popping in]

Knowing the Province likes dipping into ICBC & BC Hydro to boost up general revenue, possibly help balance things at years end. lol

MSP fit in there too.

[Dizzy1]

One way or another, it's going to come out of your pocket. Same shiznit, different pile.

Then it needs to come out of the appropriate pile - thats what transparency is all about.

Edited to add: 5-6% for my insurance is between $4.50 - $6.50 per month. If I can afford to drive and maintain a car, I can pay that amount to my insurance.

Thats only the price of a cup of coffee, we can afford that. This is going to be raised as well, but hey, its only the price of a cup of coffee. Thats going up as well, but hey, its only the price of a cup of coffee. I do love my coffee, but I can only drink so much of it - especially when the roaster has a nice big surplus sitting in his bank account because his coffee drinkers have been good customers and is saving it for a rainy day, but then along comes Juan Valdez and just helps himself to that surplus so he can claim that his coffee beans are the cheapest in the country.

[dontrump]

NO its called false taxation . continually sucking off icbc and bc hydro to make the books look good . Then telling us what knotty drivers we all are.

thank TRUDEAU for this; If we got our fairer share of federal tax transfers we would not be in this situation
25000 welfare recipients added to the federal payroll last fall remember

[MAPearce]

Perhaps it has something to do with people scamming ICBC with false claims?

Millions and millions of dollars are lost every year by people trying to screw the system. Same with shoplifting....rates and prices are forced to go up.

I CALL *removed* !!

Got a claim number to prove it .

[JagXKR]

"Insurance fraud is not a victimless crime; it costs every B.C. driver more than $100 per year on their insurance policy. Insurance industry estimates indicate 10 to 20 per cent of auto insurance claims contain an element of fraud or exaggeration. That means, dishonest claims total up to as much as $600 million each year in B.C. And ICBC is committed to catching fraudsters in the act as one of the ways to help reduce the pressures on rates."

http://www.icbc.com/about-icbc/newsroom ... n20-1.aspx

"What ICBC is doing about fraud
We're enhancing our Special Investigation Unit activities, which last year investigated almost 5,000 claims-related fraud files.
In 2010, we launched our cyber unit, which uses information available on the internet and social media to detect exaggerated and fraudulent claims.
We’re exploring fraud analytics tools that use data and statistical methods to help flag patterns and predictors of fraud at the beginning of the claims process. Our goal is to detect fraud before any claims are paid out.
The work of our Special Investigation Unit has led to hundreds of charges and convictions over the last six years - approximately 550 convictions from 2010 to 2015."


http://www.icbc.com/about-icbc/Pages/fraud.aspx


How about those numbers? In Canada criminals get slapped on the wrist and it costs everyone big time.

[GordonH]

http://www.castanet.net/news/Opinion/17 ... -1-in-cost

Because the BC Government needs to pad general revenue once or twice a year.

[Rosemary1]

Don't expect much to change until BC accident and injury rates can be more dramatically reduced by
-dialing back highway speed limits to more reasonable limitst- not increasing them!
-getting even tougher on ICBC frauds, driver licensing scams, driving intoxicated, and while using cell phones
-putting a stop to BC residents using Alberta driver licenses
- mandatory physical driving tests every 3 years for all seniors 80 and over
-mandatory physical driving tests for drivers with repeated driving infractions after x number of points are lost
- expanding coverage/rate options to include some private coverage
-
Of course flattening topography of BC so we have fewer dangerous roads could also reduce addicents! (Lol)

It's pretty tough to compare rates province to province with private insurer. There are so many so many variables that conclusions vary from study to study. But if BC goes totally private, some drivers will find insurance not only unaffordable but having to shop around for a private company that will even insure them. Some could see this as a good thing. Others not.

[Dizzy1]

-dialing back highway speed limits to more reasonable limitst- not increasing them!
-getting even tougher on ICBC frauds, driver licensing scams, driving intoxicated, and while using cell phones
-putting a stop to BC residents using Alberta driver licenses
- mandatory physical driving tests every 3 years for all seniors 80 and over
-mandatory physical driving tests for drivers with repeated driving infractions after x number of points are lost
- expanding coverage/rate options to include some private coverage
-
Of course flattening topography of BC so we have fewer dangerous roads could also reduce addicents! (Lol)

Do you have stats on how many accidents, just for example on The Connector accured at 120km/h vs 110km/h?

The only way, and the only way to get reasonable rates is to cut off the hands that keep getting put into the cookie jar. Just like everything else in this Province, our insurance is also just another form of tax that the Government helps themselves too so they can claim we have the "cheapest" insurance in the country. Just like healthcare, tax us month to month as an extra fee so you can claim we have the "cheapest" income tax in the country.

[Not PC]

One way or another, it's going to come out of your pocket. Same shiznit, different pile.

Edited to add: 5-6% for my insurance is between $4.50 - $6.50 per month. If I can afford to drive and maintain a car, I can pay that amount to my insurance.

True.

And to add, if you think this is expensive, try private insurance. A ticket or two will jack your rates by 50-100%. Add an accident, and you'll pay huge money per month. Check the Alberta, and Ontario rates.

[rookie314]

Boo Hoo. You get tickets and your rates go up, go figure. Accident and you pay more for insurance, go figure. By the way, in Alberta I can bundle my home and auto insurance and pay 800 per year less than in BC. I have a clean driving record and no insurance claims on my home in over 20 years. If you think that ICBC is a great deal you need to have your head examined. It's nothing more than a cash cow for the government. It has no competition so if you don't like it, tough.

[ken531a]

the thing a hate is the out and out lying about taxation .treating people like they are stupid. But it works , crunchy stands up and preaches about low taxes .
The scam works because people are conditioned to believe and trust smiling grinning mouth pieces that are in power. Treat the disabled and child poverty like there dirt and raise rates and your own wages.

[d0nb]

Having the government run the entity we have to rely on to make fair settlements for accident victims can be viewed as an unacceptable conflict of interest. I note that a Castanet poll of a couple of days ago gained a huge majority of votes to get rid of ICBC. We should have the power to add such initiatives to election ballots.

[zzontar]

http://www.castanet.net/edition/news-st ... htm#181664

B.C.'s Crown insurer is coming under fire for what critics are calling a hidden potential rate increase.

The utilities commission responsible for approving premium hikes has asked the Insurance Corporation of British Columbia to provide information on possible increases through 2020, but the company has refused to comply.

"The information could be taken out of context and used to prejudice ICBC and its Basic insurance policyholders and thereby harm ICBC's financial interest," the insurer wrote in a letter submitted to the commission in October.

ICBC argued estimates based on assumptions “do not represent a reasonable depiction of the future Basic insurance business."

ICBC has already applied for a 4.9 per cent rate hike, which averages out to $42 a year.

Asked Tuesday whether ICBC should be trying to keep other potential hikes hidden, B.C. Premier Christy Clark responded that she is "fighting for the rate-payers."

However, NDP's Adrian Dix said the BC Liberals have transferred hundreds of millions into the province's general revenue; money paid by B.C. drivers.

Dix said that money could have instead been used to help offset the kind of cost pressures that ICBC cites as a reason for needing to hike rates.

Dix went on to say there is no reason not to make the estimated increases public, and charged the Liberals with making a catastrophic mistake and attempting to cover it up until after next year's election.

There was no increase in 2011, but premiums jumped a whopping 11.2 per cent in 2012. They increased another 5.2 per cent in 2013 and 2014, and last year increased by 5.5 per cent.

Instead of raping us while we're awake, they now want to give us the date-rape drug first. Nice.

[westbankkid]

I am not a person that is a fan of the death penalty like our neighbors to the south...........with that said I am willing to accept Canada bringing it back and used EXCLUSIVELY for lying, cheating politicians. It appears the only way these thieves can be held accountable is if the price they have to pay when caught is final. "Do not pass go and do not collect $200.00". Two terms of cheating equates to 6 figure pensions..........this has to change. The adage "you have to pay like this to get the best" is a crock of .... and has been proven time and time again that they are predominantly "pigs at the trough".

And Christy Clark should be first in line....