Who's to blame for ICBC's $1.3-billion operating loss?

  • DrivingEveryday - 3 years ago

    Middle East, Housing market(and densification), Oil Sand, social whopping media, US condition and local politics make up for the problem today. If you iron out the corruption and mis-management, that only accounts for a fair percentage of the problem.

    The real problem is what BC is becoming, and ICBC is only a litmus test.

    Part of the symptom is that there is a new generation of drivers(who are in BC for various reasons) on the road who hasnt got the "at fault" treatment and see their rate increase and feeling the pressure. For local drivers in the last 30 years THAT has happened and we have learnt to be defensive and safer driver.

    Social Media is changing people's behavior as well. Where do you think last seconds decision(merging, U turns, indecisiveness) is from?

    Bad drivers are bad because they arent caught often enough. The rate at which accident happen isnt strictly due to bad drivers, probability is higher now. The only reason for that is because population increase.

    Fix the housing market, start focusing development in the valley, and all these problems will be secondary.

    of course, this is dream talking.

  • BRUCE COATTA - 3 years ago

    The Original Question: "Who's to blame for ICBC's $1.3-billion operating loss?"
    As Wally said: "The question is: why are we as British Columbia taxpayers even in the insurance business at all."
    As Bruce said: "David Barrett, commonly known as Dave Barrett ..."

  • Jim - 3 years ago

    Bad drivers are the root of the problems.

  • Bruce - 3 years ago

    Christy Clark once said the NDP couldn’t operate a hotdog stand..... Its the liberals with mustard all over their faces .

  • Noelle Brown - 3 years ago

    Well initially the NDP are to blame for starting the ICBC because we had private insurance before that and it worked. No insurance company is legit is you ask me. After the Liberals got in they made it worse but at least got rid of the those horrid vehicle inspection stations which were the worst, with hours of idling vehicles.
    However they were losing money hand over fist and should have canned it and let private enterprise take it back instead of draining the bank.
    However, the government should never be in business and they just don't get it. They don't care about losses and bottom lines because there is always the tax payer to pay it off.
    So you have two corrupt governments and nothing but debt to show for it all.

  • Wally - 3 years ago

    There are many reasons why ICBC has big problems. Mismanagement, bad government, bad drivers, fraudulent claims.....The question is: why are we as British Columbia taxpayers even in the insurance business at all. Look at Alberta-private companies with a lot better premiums. Get rid of ICBC. Anything run by government, regardless of which party, is never efficient.

  • M Maclean - 3 years ago

    Once again , we see why nothing ever changes in politics . We have NDP supporters saying it’s the Liberals and Liberal supporters saying it’s the NDP. It was wrong for the Liberals to take funds from ICBC to balance the budget but the question we should be asking right now is , how could the ICBC deficit have ballooned by a Billion dollars over the last three months under Joy MacPhails watch ? How is it even possible to be off by that much ? Is it possible that the NDP is stockpiling ammunition in case Andrew Weaver decides to no longer support John Horgan and the NDP ? Is this just smoke and mirrors to hide the fact that there was no way they were going to balance the budget ? We all need to stop blindly supporting political parties and start asking more questions.

  • Andy Cleminson - 3 years ago

    Steve Exley has it dead right.
    Liberals stole from' Peter to make Paul look better'....

  • Brian La Pointe - 3 years ago

    First things first. Blame the previous government. Then look at the issues that might have caused the problem. Are insurance claims awarded reasonable? I suspect they are since they can be tested in court. Are premiums reasonable given the driving records of the insured? Is admin in line? How does the ICBC claim and premium verses profit experience compare with other companies in the same business? Rather than focusing on making political Hay (Hey) let get an independent analysis.

  • Russell - 3 years ago

    No doubt that it is the fraudulant, phoney medical claims. Awards too high and lawyers always can find a plaintiff's whore doctor to write anything for a fee. Money spent to secretly observe these "disabled" plaintiffs after they get their money would be well spent and would bring down inflated injuries.
    No one knows the percentage but I would bet more than 50% are cheating the system.
    Time to crack down on the cheaters and fraudsters.

  • Big brother - 3 years ago

    A definition of insurance is, the financial distribution of risk. It works admirably when life and limb are concerned_ for obvious reasons. But when insurances started to be sold for the inventories (autos and other property) of the people_ is when the deception began. Today, it may be financially prudent to simply own a second vehicle in the case of accident and repeal car damage insurance law. It could be that resources used in car insurance could be better used in the auto manufacturing industry.

  • BRUCE COATTA - 3 years ago

    David Barrett, commonly known as Dave Barrett ...

  • Derick Cheng - 3 years ago

    Expensice cars pay 5 to 10 times rates . Increase the driver licensing testing skills and retest for those responsible for accidents and speeding Police patrol pull in drivers driving radically or speeding or being distracted or dangerous patterns like railing and cutting lanes

  • James Oldham - 3 years ago

    The Liberals should be accountable for bleeding the ICBC of money to balance their budgets over the years. Ultimately the people to blame are the BC drivers because there is a decided lack of respect for laws and for fellow drivers. You just need to look at the number of cars that run the lights rather than stop, who don't shoulder check, don't use signals when changing lanes or turning corners and those that open car doors into on coming traffic.

  • Other - 3 years ago

    Has the media reported how many vehicle owners have moved their optional coverage to private insurance, since it became available?

  • JKent - 3 years ago

    BC Liberals need to be held accountable and when proven guilty of collusion or incompetence, need to have their pensions confiscated to help offset costs. There needs to be harsh penalties for professional politicians messing up everything then retreating unscathed. There needs to be consequences. The law must only be done, but seen to be done.

  • Steve Exley - 3 years ago

    Previous government skimming profits from ICBC to make there budget appear to be balanced, while borrowing and adding to a 60 BILLION DOLLAR DEFICIT. Thanks uneducated government officials!

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