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Letters  

Return borrowed money

So now we learn that ICBC is $1.3 Billion in debt. Anyone that manages a grocery store would have a good idea of their current and pending obligations, but not the high priced help at ICBC. According to an ICBC compensation report the CEO got a larger incentive payout for 2016/2017. Why, for not understanding the business?

Although it is a bitter pill to swallow, the short term solution is obvious, the provincial government needs to return the $1.2 billion they siphoned off to simulate a balanced budget. That money was used to help run the province but was paid for by our insurance premiums. This was not the fault of the NDP but they are now the government and government seems to always have a obligation to rectify sins of the past.

I suggest that ICBC stop funding road improvements, ICBC states they have spent $138 million since 1990 for road improvements and studies. It is claimed that these expenditures have resulted in huge savings. If that were true I suggest other insurers would invest this way as well, but I don’t believe this is happening. ICBC could promote safe driving and collision avoidance classes.

If other provinces can run successful auto insurance corporations we should be able to do the same here in BC. We have the second highest rates in Canada, perhaps we need some out of province talent.

Gord Marshall



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