Plenty of finger pointing over ICBC ‘dumpster fire’
Columnist Mike Smyth writes about the shocking losses at ICBC.
torney General David Eby lays out the government’s plan.
British Columbia’s public auto insurer has become a “financial dumpster fire” that will burn through a shocking $1.3 billion in losses during the current fiscal year.
That was the grim news confirmed Monday by B.C. Attorney General David Eby, and it raises a big question: Who will get scorched by the rising flames?
Eby said B.C. drivers would have to cough up an additional $400 a year on their insurance premiums to cover ICBC’s staggering losses. Even that wouldn’t solve the problems, though, because Eby said the insurance corporation needs more drastic action.
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