Nelson Bennett Government Use of ICBC and BC Hydro Funds
Nelson Bennett's 28 December 2022 article in Business in Vancouver.
Nelson Bennett's 28 December 2022 article in Business in Vancouver.
Media interviews to 14 Decemder 2022.
A compendium of media reports and commentary on the change in the liability model announced on 6 Fenruary 2020.
A summary of media reports from October 24th to November 1st respecting ICBC's finances. Includes comments by Todd Stone and hints by David Eby about no-fault.
Some of the key media reporting and comments on the changes to the Basic rate design announced on August 9, 2018.
My article published by The Tyee online journal; https://thetyee.ca/Analysis/2018/06/07/ICBC-Changes-Insurer-Woes/?utm_source=daily&utm_medium=email&utm_campaign=070618
On 28 January 2018 (a Sunday!) ICBC posted its third-quarteroperating results for 2017/18. The loss of $935 million, with a forecast of near $1.3 billion by year-end sparked a series of media reports; http://theprovince.com/news/bc-politics/mike-smyth-shocking-massive-losses-revealed-at-icbc-huge-rate-hikes-feared,
http://vancouversun.com/opinion/columnists/vaughn-palmer-eby-suggests-major-reforms-to-clean-inherited-icbc-mess, https://www.theglobeandmail.com/news/british-columbia/ag-david-eby-vows-reform-to-icbc-to-avoid-massive-rate-hikes/article37784040/, https://www.theglobeandmail.com/news/british-columbia/government-changes-to-tackle-deficit-not-enough-icbc-chair/article37800884/, https://www.theglobeandmail.com/news/british-columbia/icbcs-financial-woes-blamed-on-christy-clark-era-rate-smoothing/article37813885/http://vancouversun.com/news/national/ian-mulgrew-dont-blame-us-and-dont-believe-icbc-lawyers-insist
http://www.timescolonist.com/opinion/columnists/les-leyne-eby-pulls-alarm-on-icbc-s-dumpster-fire-1.23158279, http://vancouversun.com/opinion/columnists/vaughn-palmer-a-liberal-timeline-that-would-make-the-sopranos-envious, http://vancouversun.com/news/local-news/repair-shops-argue-used-parts-are-piece-in-fixing-icbc-finances,
On 30 November 2017, Rob Shaw of the Vancouver Sun reported that the government is actively considering a cap on claims for pain and suffering awards for minor soft tissue injuries; http://vancouversun.com/news/politics/government-considers-cap-on-minor-injury-claims-to-fix-icbc-finances The cap would be a key part of a strategy to prevent the massive losses forecast for the compulsory Basic insurance program as discussed in http://www.bcpolicyperspectives.com/media/attachments/view/doc/commentary_icbc_s_28_nov_2017_basic_forecast_29_nov_2017/pdf
Attorney General David Eby unveiled the 2017 Basic and Optional rate increases, and outlined a multi-year plan to restore ICBC's finances, with regular reports on progress; http://vancouversun.com/news/local-news/attorney-general-to-announce-changes-to-insurance-corp-of-b-c and http://www.cbc.ca/news/canada/british-columbia/icbc-rate-increases-eby-1.4275970 and http://www.timescolonist.com/news/local/icbc-rates-to-rise-6-4-per-cent-typical-motorist-to-pay-57-more-1.22443523
Ariticle by Geordon Omand of the Canadian Press reviews the declining financial condition of ICBC; https://www.theglobeandmail.com/news/british-columbia/british-columbias-once-feted-public-auto-insurer-in-financial-crisis/article35978986/ The story was published by the Globe and Mail and Postmedia papers.
Keith Baldrey, in the North Shore News, writes about the looming financial crisis at ICBC;http://www.nsnews.com/opinion/columnists/baldrey-get-ready-for-massive-icbc-rate-hikes-1.10685159
Gary Mason, of The Globe and Mail, reports on the new financial forecast for ICBC; http://www.theglobeandmail.com/news/british-columbia/provinces-file-bungling-has-driven-insurance-corp-of-bc-into-trouble/article34136030/, with a backgrounder.
Vaughn Palmer in the Vancouver Sun comments on the timing of the review of ICBC costs and rates; http://vancouversun.com/opinion/columnists/vaughn-palmer-liberals-in-no-rush-dealing-with-icbc-matters
Stephen Hume of The Vancouver Sun says lower speed limits and photo radar would reduce the frequency and severity of crashes: http://vancouversun.com/opinion/columnists/stephen-hume-want-lower-icbc-rates-drop-speed-limits-get-tough-on-lead-foot-drivers
Pete McMartin of the Vancouver Sun writes about the growing cost of medical reports for soft tissue injuries; http://vancouversun.com/opinion/columnists/pete-mcmartin-medical-reports-make-up-major-chunk-of-icbc-expenditure-insiders-reveal
Pete McMartin of The Vancouver Sun write about how BC is the ony province without some limit on minor pain and suffering claim awards; http://vancouversun.com/opinion/columnists/pete-mcmartin-icbcs-death-by-a-thousand-fender-benders
Ian Mulgrew in The Vancouver Sun reports on the rise in injury claims; http://vancouversun.com/storyline/ian-mulgrew-icbcs-claims-costs-balloon-fuelled-by-antagonistic-litigious-strategy
Ian Mulgrew of The Vancouver Sun reports on rift between the judiciary and government over rejected increase in civil tariff:http://vancouversun.com/opinion/columnists/ian-mulgrew-anton-plays-artful-dodger-over-court-fees-debacle
Ian Mulgrew of The Vancouver Sun reports on failed attempt to change civil rules tariff; http://vancouversun.com/opinion/columnists/ian-mulgrew-attorney-general-under-fire-for-bowing-to-icbc-concerns
News 1130 story says Premier Clark fighting for affordable auto insurance rates.
Adrian Dix asks Auditor General Bellringer to review ICBC finances in light of projected $1.5 billion capital requirement to continue the Basic rate subsidization; http://vancouversun.com/news/local-news/ndp-wants-auditor-general-to-review-icbc-finances
Rob Shaw of The Vancouver Sun reports on the confusion caused by the government announcement that owners of luxury cars will no longer be covered by ICBC; http://vancouversun.com/news/local-news/confusion-lack-of-detail-plague-icbc-changes-on-luxury-autos
Rob Shaw of the Vancpuver Sun reports on ICBC's five year Basic rate forecast; http://vancouversun.com/news/local-news/icbc-admits-42-per-cent-in-rate-hikes-possible-for-basic-auto-insurance
Rob Shaw reports in The Vancouver Sun about the potential financial crisis at ICBC;http://vancouversun.com/news/local-news/icbc-finances-in-question-amidst-fight-to-keep-secret-rate-forecasts
Rob Shaw's article in The Vancouver Sun reporting on ICBC's reluctance to file a financial forecact with the BC Utilities Commission:http://vancouversun.com/news/local-news/icbc-fighting-regulator-to-keep-future-rate-forecasts-from-public
Ian Mulgrew in The Vancouver Sun reviews the effects of greater rates of legal representation on ICBC's claims costs; http://vancouversun.com/news/local-news/icbcs-claims-costs-balloon-fuelled-by-antagonistic-litigious-strategy
Ian Mulgrew of The Vancouver Sun reviews cost pressures on ICBC rates for 2016; http://vancouversun.com/opinion/columnists/ian-mulgrew-icbc-lawyers-head-on-duel-a-side-show-rates-still-going-up
Commenting on the 2015 rate increase the Times Colonist advises the government to stop taking ICBC's surplus capital.http://www.timescolonist.com/opinion/editorials/editorial-stop-bleeding-icbc-for-profits-1.2056594
On 9 August 2016 the Times Colonist editorial highlighted how the government was taking ICBC's money.http://www.timescolonist.com/opinion/editorials/editorial-stop-siphoning-off-icbc-money-1.2318590