(Pixabay photo)

(Pixabay photo)

Questions raised over lack of driver rebate as ICBC reports $329.5M in pandemic savings

Attorney General David Eby says law now requires any surplus to benefit drivers

An association representing private insurers across the country is taking aim at ICBC, calling foul over a lack of rebates for B.C. drivers despite recently reported financial savings amid the ongoing pandemic.

Between April and June, when the pandemic forced people to stay indoors, businesses to shut down and employees to work from home, the Crown insurance corporation saw a 37 per cent reduction in claims compared to the same period in 2019, according to financial reports released earlier this week.

That amounts to roughly $329.5 million in financial savings in claim costs.

But despite the savings – within a corporation which has been dubbed by B.C.’s current Attorney General as a “dumpster fire” hemorrhaging millions of dollars – the province has not announced any intention to offer financial relief to drivers anytime soon.

In a statement Friday (Sept. 11), the Insurance Bureau of Canada said that ICBC’s refusal to return COVID-19 savings to its customers stands in stark contrast to private insurers, which across the country have returned an average of $280 per eligible driver.

“Rather than supporting British Columbians in their time of need, ICBC is balancing its books on the backs of drivers in this province,” said Aaron Sutherland, association vice-president.

ALSO READ: ICBC surpluses should be hands-off to politicians, David Eby says

“Just next door in Alberta, eligible drivers have received an average of $302 in premium relief in recognition of the fact that claims are down and consumers deserve a share of those savings.”

Earlier this week, the NDP government was called out by the B.C. Liberals over unrelated rebate cheques set to be in drivers’ pockets late next year – possibly falling in line with the next scheduled provincial election in October 2021.

That rebate, announced in months past, is part of the government’s shift to a no-fault auto insurance model which officials say will save the public insurance corporation in the years to come with drivers in B.C. seeing some of the lowest rates and best benefits in the country.

In a statement emailed to Black Press Media Friday afternoon, Attorney General David Eby said after billions of dollars in losses, the province is requiring ICBC to be fiscally prudent through the current year before issuing any rebates.

“If ICBC does end up with a surplus as a result of the pandemic, combined with money saving reforms we have already implemented, we have passed a law requiring that surplus must be used to benefit drivers,” he said. “It could be through a rebate, a capital build that helps keep future rates low, or some combination of the two.”

He also cautioned British Columbians to consider the source of the criticism.

“This private insurance industry lobby group that says they’ll do a good job on car insurance in our province by theoretically providing rebates is the same lobby group that is trying to explain to British Columbians why strata insurance rates in our fully private market are climbing by 30 per cent and more with no accountability.”

ALSO READ: ICBC begins catching up on thousands of road tests


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

ICBC

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

U.S. Senator Bernie Sanders sits in on a COVID-19 briefing with Dr. Bonnie Henry, provincial health officer, and Adrian Dix, B.C. minister of health. (Birinder Narang/Twitter)
PHOTOS: Bernie Sanders visits B.C. landmarks through the magic of photo editing

Residents jump on viral trend of photoshopping U.S. senator into images

Chris Wilkinson
Chris Wilkinson column: Time to slow down to speed up

In a society where we learn (are forced?) to multitask like crazy

A COVID-19 exposure has been reported at Shawnigan Lake School. (Citizen file photo)
Island Health reports COVID-19 exposure at Shawnigan Lake School

Shawnigan Lake School has been added to the list of schools in… Continue reading

Peas are great to grow in the garden, but a trellis for them in an A frame shape will offer more portability and wind resistance. (Citizen file)
Mary Lowther column: Making a foldable pea trellis on winter agenda

My previous methods required starting anew every spring

Sarah Simpson
Sarah Simpson Column: Books open up a world of discovery

We try to eat dinner as a family every night. It happens… Continue reading

U.S. Senator Bernie Sanders sits in on a COVID-19 briefing with Dr. Bonnie Henry, provincial health officer, and Adrian Dix, B.C. minister of health. (Birinder Narang/Twitter)
PHOTOS: Bernie Sanders visits B.C. landmarks through the magic of photo editing

Residents jump on viral trend of photoshopping U.S. senator into images

Nanaimo Regional General Hospital. (News Bulletin file photo)
COVID-19 outbreak declared at Nanaimo hospital

Two staff members and one patient have tested positive, all on the same floor

A long-term care worker receives the Pfizer vaccine at a clinic in Nanaimo earlier this month. (Island Health photo)
All Island seniors in long-term care will be vaccinated by the end of this weekend

Immunization of high-risk population will continue over the next two months

A 75-year-old aircraft has been languishing in a parking lot on the campus of the University of the Fraser Valley, but will soon be moved to the B.C. Aviation Museum. (Paul Henderson/ Chilliwack Progress)
Vintage military aircraft moving from Chilliwack to new home at B.C. Aviation Museum

The challenging move to Vancouver Island will be documented by Discovery Channel film crews

A video posted to social media by Chilliwack resident Rob Iezzi shows a teenager getting kicked in the face after being approached by three suspects on Friday, Jan. 22, 2021. (YouTube/Rob i)
VIDEO: Security cameras capture ‘just one more assault’ near B.C. high school

Third high-school related assault captured by Chilliwack resident’s cameras since beginning of 2021

FILE - In this Feb. 14, 2017, file photo, Oklahoma State Rep. Justin Humphrey prepares to speak at the State Capitol in Oklahoma City. A mythical, ape-like creature that has captured the imagination of adventurers for decades has now become the target of Rep. Justin Humphrey. Humphrey, a Republican House member has introduced a bill that would create a Bigfoot hunting season, He says issuing a state hunting license and tag could help boost tourism. (Steve Gooch/The Oklahoman via AP, File)
Oklahoma lawmaker proposes ‘Bigfoot’ hunting season

A Republican House member has introduced a bill that would create a Bigfoot hunting season

Economic Development and Official Languages Minister Melanie Joly responds to a question in the House of Commons Monday November 23, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Federal minister touts need for new B.C. economic development agency

Last December’s federal economic update promised a stimulus package of about $100 billion this year

FILE - In this Nov. 20, 2017, file photo, Larry King attends the 45th International Emmy Awards at the New York Hilton, in New York. Former CNN talk show host King has been hospitalized with COVID-19 for more than a week, the news channel reported Saturday, Jan. 2, 2021. CNN reported the 87-year-old King contracted the coronavirus and was undergoing treatment at Cedars-Sinai Medical Center in Los Angeles. (Photo by Andy Kropa/Invision/AP, File)
Larry King, broadcasting giant for half-century, dies at 87

King conducted an estimated 50,000 on-air interviews

Comox Valley RCMP are looking for witnesses after the theft of a generator worth thousands of dollars. Photo supplied
RCMP asking Vancouver Island residents to watch for stolen generator

Vehicle may have been travelling on Highway 19

Most Read