North Coast MLA Gary Coons is joining New Democrat ICBC Critic Harry Lali in criticizing the Campbell government for not protecting British Columbian drivers from unreasonable rate hikes on their car insurance.
“This government has consistently refused to step in to protect the interests of British Columbians,” said Coons. “Whether it is skyrocketing ferry fares or car insurance rate hikes, the Campbell government has made it clear they don’t care that these costs make life more difficult for individuals and families.”
Earlier this week, the B.C. Utilities Commission (BCUC) approved ICBC’s request for a new $25 charge per non-principal driver per household.
“Where is the justification for this new charge?” asked Coons. “The reason we have public car insurance in British Columbia is to keep car ownership affordable, and to ensure that everyone in the province has access to coverage, not provide a cash cow to overpaid executives.”
Following last May’s auto insurance rate increase, ICBC reported a profit of $256 million for the first six months of 2007, a staggering 132 per cent increase over the previous year for the same period. Meanwhile, the performance pay for ICBC executives increased by 30 per cent and motorists got no relief.
“Judging from the huge increases ICBC’s revenues last year, this cash grab isn’t financially necessary,” said Coons. “If the Campbell government had any sense of fairness they would step in and halt this assault on British Columbia’s drivers.”