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

Surrey Community Leader Awards winners revealed

The 16th CLA awards, presented by the Now-Leader, recognized Surrey’s un-sung heroes

COMMUTER ALERT: Serious pedestrian crash closes Pacific Highway

Traffic along 176th Street, 4th to 8th Avenue, is blocked while Mounties continue to investigate.

MPs meet with Surrey council to discuss RCMP, LRT

Federal government to have quarterly meetings with Surrey

Hogg curious if a new recreation centre is needed in Grandview Heights

South Surrey-White Rock MP to host a Town Hall Meeting tonight

Surrey building that has gathered dust for 20 years is for sale again, with bids sought

Potential sale of the long-vacant 104 Avenue Centre is good news, Surrey Board of Trade CEO says

People flocking to Vancouver Island city to see hundreds of sea lions

Each year the combination of Steller and California sea lions take over Cowichan Bay

Protesters confront Environment Minister in B.C.

Protesters wanting more for killer whales confront Catherine McKenna

Humans reshaping evolutionary history of species around the globe: paper

University of British Columbia researcher had the paper published in the Proceedings of the Royal Society

Toronto ‘carding’ activist Desmond Cole stopped by police in Vancouver

Cole says his experience reveals what daily life is like for black and Indigenous residents

Tubing, skating, light display part of new winter festival in Vancouver

Set to open Nov. 23, the six-week festival will take over Vancouver’s Concord Pacific Centre

Commercial trucks banned from left lane of Coquihalla

B.C.’s Ministry of Transportation has introduced a new program that hopes to prevent accidents and closures on the Coquihalla Highway.

B.C. on track to record same number of overdose deaths as last year

128 people died of overdoses in September, bringing the total to more than 1,100 so far in 2018

B.C. firefighters rescue horse stuck in mud

‘It happens more often than you’d think,’ says deputy chief

Regulatory confusion over ‘toxic’ stink near Abbotsford school

Officials sniffing out which regulators responsible for enforcing compliance at neighbouring property

Most Read