What's wrong with ICBC

All this debate over ICBC and the fact it is losing so much money.

There are a few points about the difference between B.C. and Alberta car insurance and rates that I have not seen mentioned.

If all the ludicrous bonuses, let alone salaries, of those at ICBC were audited, how much is the corporation losing right there?

Bonuses should only be paid if a corporation is not losing money.

If we look at what is covered in Alberta, compared to B.C., there is another big discrepancy. In Alberta, your insurance also covers the contents of your vehicle. Here, we pay more, and do not have our contents covered unless we get supplemental coverage (which may, or may not, include a second deductible).

If we do not have supplemental coverage, we have to file with ICBC for vehicle damage (one deductible), then we have to file with our home insurance for vehicle content coverage (second deductible).

So, less coverage for more money. And do we see loads of insurance companies in Alberta losing money? No.

It all starts at the top. This Crown corporation is not being run with a positive business model. All corporations in business hold those at the top responsible for whether the company loses, or makes money.

In most businesses, those at the top are the first ones to be held accountable and let go, Not given bonuses and severance packages and pensions.

Patrick Bonor

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