There’s just one day left for British Columbians to have a say in how the government will make changes to ICBC.
Last month, the province launched public engagement regarding changes to ICBC’s auto insurance rating system aimed at making drivers more accountable for their decisions and driving behaviours. The current system has been in place for 30 years and has not been updated in the last decade.
According to a press release, more than 29,000 British Columbians have added their two cents and feedback will be collected via an online questionnaire, email or mail, until Thursday at 4 p.m.
“This important engagement asks people about changes that could make high-risk drivers pay more, and low-risk drivers pay less,” Attorney General David Eby said in a press release. “We have options about how we can make the system more fair, and I appreciate that so many British Columbians are sharing their opinions that will help shape ICBC for the future.”
In January, Eby called the ICBC’s situation a “financial dumpster fire” after the company posted a net loss of $935 million in the first nine months and a projected $1.3-billion loss by the end of the fiscal year. He promised major reforms to make the insurance company financial sustainable and keep rates affordable.
Eby announced the first wave of changes in February, including limiting pain and suffering awards for minor injuries to $5,500 and the institution of a dispute resolution process for certain types of claims in an effort to reduce legal costs.
Residents can have their say at engage.gov.bc.ca/ratefairness until 4 p.m. on April 5.
