Monday , January 25 2021

Prepare to upgrade the ICBC course

With ICBC losing so much money, BK drivers would have to hit the portfolio at the annual increased rate of fees, with Thursday or Friday expected.

David Ebby is the man who pointed out that ICBC's bank accounts are burned in a "fierce financial" that threatens to swallow the entire auto insurance corporation.

The Chief Prosecutor promised to do something to mute the flames. But lately, it seems that someone has thrown a few tires on the fire and instead driven out everything in gasoline.

The controversial fire is still raging and ICBC is still losing huge amounts of money. The company's latest loss for the first six months of the fiscal year was a shocking $ 582 million.

This means ICBC is about to lose again over $ 1 billion this year, which will be the second consecutive loss of billions of dollars.

If you want to do it differently, consider ICBC losing more than $ 3 million a day. This means that ICBC will lose about $ 9,000 for four minutes or that will cause you to read this column.

Something must be given and will begin this week.

The public car insurer is set to reveal its annual demand for tariff increases, with a bid being announced on Thursday or Friday.

With ICBC losing so much money, BK drivers must act on the wallet.

In the category of main motor insurance – obligatory for all BCs. drivers – the maximum admissible increase in interest rates is 7.9%.

The maximum increase is determined by ICBC's "interest rate trimming framework", which limits the annual increase by 1.5 percentage points over the previous year's increase (6.4%).

Optional ICBC insurance products (such as collision coverage and third party liability) have unlimited growth, so they can rise upwards.

As B.C. drivers are preparing to pay more, many have to wonder when Abey intends to finally burn the fire.

The new year will answer this question.

According to Eby, one of the main reasons for ICBC's financial bleeding is the cost of financial payments to people suffering from minor injuries in car accidents.

Judicial payments for pain and suffering are currently unlimited and ICBC is worth wealth: an average of $ 30,000 per case.

The government plans to limit the maximum payout to only $ 5,500, but the cap does not come into effect until April 1, 2019.

For lawyers for bodily injuries in British Columbia, this is a joke to the April fool who stifles them.

Lawyers also advertise violently to slam the business before disappointing. Advertisements by law firms are at a record high level.

Eby hopes to pay caps and other cost-saving measures at last to deal with the bunker once and for all. This would allow modest pedestrian crossings to be more modest, which would be the responsibility of the ruling NDP when other elections are approaching.

Meanwhile, ICBC rates are expected to rise again. Opposition liberals will be angry, but Ebbie will remind the audience that the liberals use ICBC as a pig bank to earn more than $ 1 billion from the corporation to spend on other priorities.

This is a good return to the liberal attacks. But if Abe does not burn the fire soon, the new Democrats may be burned instead.

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