BC's auto insurer targets high-risk drivers with overhaul of premiums - Canadanewsmedia
Connect with us

Business

BC's auto insurer targets high-risk drivers with overhaul of premiums

Published

on


British Columbia’s government-owned auto insurer is proposing changes to the way it calculates insurance premiums to better target high-risk drivers.

The proposed changes, including a move to a model in which at-fault crashes are tied to the driver instead of the person who owns the vehicle, would be revenue neutral and would not impact ICBC’s more than $1-billion deficit. The government says if the new measures were enacted today, two-thirds of drivers would pay less.

Under the changes, which will be submitted to the BC Utilities Commission for approval and would take effect in September, 2019, high-risk drivers and those who have been behind the wheel for less than 15 years would face higher premiums.

Story continues below advertisement

David Eby, B.C.’s Attorney-General and the minister responsible for ICBC, at a news conference Thursday said the Crown corporation’s current model for calculating basic premiums is “broken.”

“The model ICBC uses to determine these premiums is more than 30 years old and it’s increasingly failed to ensure that drivers are held accountable for their driving habits and risk levels through their insurance rates,” he said.

Mr. Eby said under the current model, a person could have up to three crashes in a single year and still pay the same basic premium as a driver who is crash-free. “That is not fair to those who drive safely,” he said.

ICBC could not say how many drivers have had three crashes in a single year.

Joy MacPhail, ICBC’s board chair, told the news conference the message from a recent public engagement process was low-risk drivers should not be paying the same rate as some high-risk drivers.

She said it is also not fair that 80 per cent of drivers receive the maximum discount available for basic insurance.

“Eight out of 10 drivers can’t possibly have the same risk profile, especially when crashes on our roads are at an all-time high,” she said.

Story continues below advertisement

Story continues below advertisement

The province said it has directed ICBC to file its application with the BC Utilities Commission next week. If approved, premiums would be calculated based on years of driving experience, number of at-fault crashes for all drivers using the vehicle, rate class (how the vehicle is used) and territory (where the driver lives), among other things.

Based on today’s insurance rates, ICBC said 39 per cent of drivers would see up to a $50 annual payment reduction. It said 13 per cent of drivers would see a reduction between $50 and $100, and 15 per cent would see a reduction of more than $100.

ICBC said 33 per cent of customers would see increased premiums if the changes were enacted today. It said 11 per cent would see an increase of up to $50 annually, while 5 per cent would see an increase of between $50 and 100. It said 17 per cent of drivers would see an increase of more than $100.

Mr. Eby said under ICBC’s proposal, less-experienced drivers – those who have been driving for less than 15 years – would see an increase in their premiums. He said less-experienced drivers cause a disproportionate number of crashes and fatalities in B.C. and higher premiums better reflect their risks.

Andrew Wilkinson, Leader of the Opposition BC Liberals, said in a written statement the NDP government is not addressing the major problems at ICBC. He said the government should look at what’s working in other jurisdictions and implement those best practices to help lower insurance rates.

Mr. Eby has said the former Liberal government hid the financial mess at ICBC and avoided the difficult measures needed to restore its balance sheet.

Story continues below advertisement

Andrew Weaver, Leader of the BC Green Party, which is supporting the NDP government, said in a written statement he was pleased with the proposed changes. He said they would ensure ICBC’s rates were more closely aligned with risk.

But Kris Sims, B.C. director of the Canadian Taxpayers Federation, in a written statement said the provincial government needs to open ICBC up to competition. She said B.C. drivers need to have a choice in auto insurance and a chance to actually save money.

“Today’s announcement about good drivers versus bad drivers only tinkers with a clunker that needs a full overhaul,” she said.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

RCMP in Burnaby, BC, say Kinder Morgan protest camp to be dismantled today

Published

on

By


BURNABY, B.C. — RCMP say they will enforce a court injunction today and remove Trans Mountain pipeline protesters who have been camped outside a Kinder Morgan terminal in Burnaby, British Columbia.

Police in Burnaby say in a release that large structures at the protest camp, known as Camp Cloud, will be dismantled and the area cleaned up.

article continues below

The release says police do not expect what they call violence or disorder while the injunction is being enforced.

Protesters said Monday that several members were prepared to protect a sacred fire that’s been burning around the clock at the site, although the injunction specifically says it should be extinguished due to dry conditions.

The camp has grown since November from a single trailer to include a two-storey wooden structure, a cabin, an outdoor shower, more than a dozen tents and multiple vehicles and trailers.

On Friday, a B.C. Supreme Court judge granted the City of Burnaby an injunction ordering protesters to remove all structures, shelters and vehicles from the site outside a Kinder Morgan tank farm within 48 hours, but that deadline passed on Sunday.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Burnaby RCMP arrest anti-pipeline demonstrators at Camp Cloud

Published

on

By



Burnaby RCMP moved in to enforce the injunction to remove the pipeline protesters on Burnaby Mountain on Thursday morning.

About five people have been arrested.

The demonstrators have been camped out on Burnaby Mountain for weeks, despite a court order to take down “Camp Cloud” by Sunday night.

Story continues below

On Friday, a B.C. Supreme Court judge granted the City of Burnaby an injunction to remove the pipeline protest camp outside one of Kinder Morgan’s terminals.


READ MORE:
Kinder Morgan demonstrators ignore deadline to take down Camp Cloud

Burnaby RCMP say they have been monitoring the protest camp, located at the intersection of Underhill Avenue and Shellmont Street, adding officers have maintained a dialogue with the residents of the camp in the hopes they would obey the injunction.

“The plan is to stand our ground,” Camp Cloud resident George Manuel Jr. told Global News Monday. “We haven’t changed our tone. We are a peaceful group here.”

Burnaby RCMP say they are not expecting any violence or disorder during the injunction enforcement period but the public may see more equipment from the City of Burnaby and Burnaby RCMP removing the structures at the camp.

Photos of Camp Cloud and a second smaller camp nearby:

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Bell Media gets Viceland

Published

on

By


Bell Media has signed a new long-term agreement that will see it become the exclusive Canadian broadcaster for new programming from Vice Media network Viceland.

Financial terms of the deal were not immediately available.

The companies say the shows will debut on multiple Bell Media platforms, including CraveTV, in the fall.

They say new Vice shows will exclusively air on television on Bell Media channels, while it has also acquired the rights to more than 650 hours of Vice library programming.

Bell Media and Vice will also explore co-production opportunities.

The deal follows the end of a deal between Rogers Media Inc. and Vice earlier this year.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending

Copyright © 2018 Canada News Media

%d bloggers like this: