BC Attorney General David Eby says, ‘We will not ask ICBC to put forward a 2020 rate application based on an incomplete financial picture’
David Eby, Attorney
General in John Horgan’s BC NDP government, has issued the following statement
on ICBC:
“After years of
the previous government’s mismanagement of ICBC, British Columbians are paying
too much for car insurance. We have much work ahead to get these costs down for
families.
“As a result,
government has directed a delay in ICBC’s rate application until February in
order to do the necessary financial analysis of two sets of planned reforms
currently underway to help reduce costs, and by extension, car insurance rates.
“First, we are
working on reforms to respond to a recent court decision striking our limit on
expert reports and associated costs. Second, we are working on additional
reforms in the tort system that will help to reduce costs and have a positive
impact on any required rate changes.
“We will not ask
ICBC to put forward a 2020 rate application based on an incomplete financial
picture. Instead, we will wait until that work is complete to ensure any rate
changes are based on the actual costs anticipated in the year ahead.”
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