ICBC should only raise rates of fraudulent claimants

My monthly pre-authorized payments to ICBC increased by about $10 between 2015 and 2016.

ICBC has been granted another rate hike by the British Columbia Utilities Commission for an ‘interim’ 5.5 per cent increase to basic insurance rates effective Nov. 1, 2015.

Reason: “The rising number and cost of injury claims.”

When I received my renewal reminder, my basic coverage rates were increased by exactly 5.5 per cent compared to last year. However, the optional insurance coverage was raised by a much larger percentage and therefore a larger dollar impact.

As a result, my monthly pre-authorized payments to ICBC increased by about $10 between 2015 and 2016. But the same would be increasing by another $15 per month between 2016-2017.

Why can’t ICBC increase the rates of only the fraudulent claimants?

 

Thomas George

Delta

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