Ex-cabinet minister named ICBC chair

Barry Penner's appointment comes as the Crown agency prepares its final arguments for a 5.5 per cent rate increase

Barry Penner has been in private law practice since retiring as B.C. Liberal MLA for Chilliwack before the 2013 election.

Former B.C. environment minister Barry Penner takes over as chair of the Insurance Corporation of B.C. at the end of March.

Penner’s appointment comes as ICBC prepares its final argument for a 5.5 per cent rate increase that it started charging in November. The increase raises the cost of basic insurance by about $3.70 per month for the average driver, and still needs approval by the B.C. Utilities Commission.

Citing rising costs from personal injury claims and fraud, ICBC proposed a maximum 6.7 per cent increase. The province gave the Crown corporation permission for a one-time transfer of $450 million from its optional insurance business to subsidize the basic rate.

“The B.C. government will continue to work with ICBC to identify and implement measures that will mitigate the causes of rate increases, to help ensure that ICBC insurance rates remain as low and affordable as possible,” said Transportation Minister Todd Stone, announcing Penner’s appointment Tuesday.

The B.C. government continues to take a share of revenue from ICBC optional insurance sales, where it competes with private insurers for collision and other coverage beyond the mandatory basic insurance.

The current budget calls for ICBC to transfer $95 million this year, $148 million next year and $130 million in 2018-19.

 

Just Posted

Fraser Health to buy two private MRI clinics in Surrey, Abbotsford

New clinics will provide 2,000 more MRIs by fiscal year-end

Retired football kicker wanted play hockey as a kid, but ‘it just wasn’t in the budget’

Surrey-raised Paul McCallum now backs KidSport and its annual fundraiser set for Friday

City of White Rock celebrates water treatment plant progress

Plant to reduce manganese, arsenic in water

Surrey Eagles get first victory of season with 2-1 win over Vernon

Chase Stevenson ties game late, scores OT winner on Saturday

Surrey Students NOW slate plans SOGI info session

Event aims to to ‘address concerns and misinformation about the resource being used in our schools’

Live bear cam: Let the fishing begin

Watch bears in Alaska’s Katmai National Park catch their dinner live.

Campaign seeks to add Farsi to B.C. school curriculum options

Group wants Farsi added to list of nine languages in policy covering second language requirements

Trudeau urges leaders to follow Nelson Mandela’s example at UN tribute

Peace summit in New York marks 100th birthday of former South African president

Senate seats filled in B.C., Saskatchewan

Canada’s newest senators are the first woman to lead the RCMP and a Cree Metis businessman

Newfoundland’s popular ‘merb’ys’ calendar is back

The calendar of burly, bearded mermen posing against scenic backdrops for charity returns

Less than half of Metro Vancouverites feel they can influence government: study

SFU researchers suggest most people believe elected officials don’t care

Cap rent increases at inflation rate, B.C. task force recommends

MLAs say drop annual increase that would allow 4.5% rise next year

School, church, old mining site make Heritage BC’s first ‘watch list’

The list includes sites in need of protection to maintain B.C.’s culture and history

5 to start your day

Maple Ridge students send books to fire-destroyed school, teen stabbed in Surrey park and more

Most Read