ICBC public engagement process open now through April 5th
The BC Government is giving the public a say in how Insurance Corporation of British Columbia rates are designed. Attorney General David Eby says the 30 year old auto insurance rating system hasn't been updated in a decade and the public engagement process starts today.
To kick things off Eby released a video asking BC drivers to weigh in regarding changes to the auto insurance system to make drivers more accountable:
"Car insurance rates in our province aren't fair. Low risk drivers with perfect records are paying more than they should. Meanwhile high risk drivers that are driving costs up for everyone aren't paying enough. We want to fix this problem. We'll do this by making changes to the current auto insurance rating system. Changes that will hold all drivers more accountable for their driving decisions and their driving behaviour "
Eby says the government wants to hear about things how ICBC should use accident claims and driver experience to determine what a driver should pay for basic insurance. Or how much speeding tickets or other driving convictions should influence insurance costs.
The engagement process is open until April 5th at 4pm. We have a link to the website where you can participate on our webpage.