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ICBC premiums not changing until the end of current fiscal year
BY , May 14, 2020 9:39 PM - REPORT AN ERRORLAST UPDATED ON May 15, 2020 1:16 AM
(File) Vancouver: B.C Attorney General David Eby alongside ICBC CEO, Nicolas Jimenez announcing important changes in ICBC. Connect News/Jawad Siddiqui
(File) Vancouver: B.C Attorney General David Eby alongside ICBC CEO, Nicolas Jimenez announcing important changes in ICBC. Connect News/Jawad Siddiqui
(File) Vancouver: B.C Attorney General David Eby alongside ICBC CEO, Nicolas Jimenez announcing important changes in ICBC. Connect News/Jawad Siddiqui
The COVID-19 pandemic has sideswiped British Columbia's public vehicle insurer, but the attorney general says it's too soon to assess the potential damage.
David Eby, who is also the minister responsible for the Insurance Corporation of B.C., said Thursday claim costs are down by about $160 million because there have been fewer accidents as drivers stay home.
But he said plunging prices on global stock markets have hit the corporation's investment portfolio.
Eby says the clear picture of the pandemic's impact on ICBC won't be truly known until the end of the current fiscal year in about 10 months.
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