ICBC out of luxury game

[my5cents]

To my .05...
Cherry pick, yes.. ICBC took there money every year til, now.. What changed ? Now you want out.
It looks to me like they dont want to do the actual wore that was given them... But who is the provincial insurer? Still ICBC, is it not ?

Historically insurance companies raise their rates as payouts become higher, the rates increase to insure a profit..nothing new there..

As for private companies declining someone,, are they the appointed Provncial Insurerer, no they are not... And thus they get to pic and choose .

I think I've pretty much stated my position. ICBC has a mandate to sell liability insurance to everyone in BC. For optional coverage it operates like all insurance companies, it can refuse to sell, and it does.

[forum]

I agree. And approve your message.

[Jonrox]

forum, who are you thinking of going with for your private insurance? Did talking to any of the private insurers result in any interesting findings? Any insight you can share for the other supercar enthusiasts?

[lesliepaul]

Had a very interesting conversation with someone who is VERY in the know with ICBC. The Luxury Car headlines and repair cost we have read about in the last week are a drop in the bucket.........it is merely a "deflection" from the REAL issue that cripples ICBC.


FRAUD........#1..........the staging of accidents by families and relatives to get an injury payout.........regardless how small.


AND, guess which segment (ethnic) of B.C.'s population (male and female) are the largest culprits........make that criminals.

[60-YEARS-in-Ktown]

Like I said, they are making a bigger than need be deal , about saving a small amount of money, to make it look like they are trying to save us some money.

[GordonH]

Government of the day just wants to make sure when they rob from ICBC (... Oops my bad) transfer profits to general revenue their will be large transfer done. lol

[my5cents]

Government of the day just wants to make sure when they rob from ICBC (... Oops my bad) transfer profits to general revenue their will be large transfer done. lol

Come on Gordon ! In polite company it's called "a dividend payment". At worst, it has been referred to by the media as "the government siphoning off profits".

Christy prefers you use the former, "dividend payment". Surprised she doesn't just call it "asset relocation"