I’m not sure who wrote the editorial on ICBC that appeared in The Morning Star recently, but I felt a response necessary.
While I agree completely with banning all of the various electronics that distract drivers, I find it very hard to feel sorry for ICBC, who, I see, is raising the premiums yet again, using a multitude of claims as its excuse.
I’m wondering how many people realize that in the many years that ICBC has had a huge surplus, that, rather than cut back on insurance rates, or even holding the line for a few years, our provincial government instead transfers those surpluses over into its general revenues.
Then, the next year, quoting increased claims, they again raise insurance rates, which create a surplus, which gets transferred into general….etc.
Millions and millions have been transferred.
The drivers who paid for the surplus get no direct consideration at all.