Nelson Bennett Government Use of ICBC and BC Hydro Funds
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Nelson Bennett's 28 December 2022 article in Business in Vancouver.
Nelson Bennett's 28 December 2022 article in Business in Vancouver.
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,
http://theprovince.com/opinion/columnists/mike-smyth-are-auto-body-repair-shops-over-billing-icbc
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