Tuesday, September 1, 2015
Are Crown Corp's Being Responsible?
ICBC looking at 6.7 per cent hike in basic insurance
he BC Government forces all BC Residents who drive to purchase ICBC mandatory vehicle insurance. ICBC who is basically under the same umbrella as BC Transit, BC Ferries, BC Hydro who the BC Government has shed and dodged all responsibilities for so they are not held responsible for the deeds of these companies, but as taxpayers who have no other alternatives but to deal with these companies definitely do hold the BC Government responsible when we have no other alternatives to choose.
This is not democracy in abuse.
To quote ICBC .........
ICBC says more fraud is one potential explanation, as well as more minor soft tissue injury claims. If regulators approve the request, this will be the fourth straight year of basic insurance premium increases following hikes of 11.2 per cent in 2012 and 5.2 per cent in each of 2013 and 2014.ICBC has simultaneously reduced its optional insurance rates – on which it competes against private insurers – in five of the last seven years.
"More "FRAUD" is one potential explanation. Amazing that they have figured out one potential cause for needing more money but they have not indicated that they are doing anything about stopping it other than to pass their fraud costs onto those who have never abused the corporation. They forgot to mention the high wages, the benefits, the bonuses, the expense accounts the high severance payouts, the superior people they need to hold the positions to counteract the abuse and all the hidden costs that we will never know but it is abuse on the highest level to those who they just keep demanding more and more every year.
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