I see that ICBC is on track for a $1.3 billion loss. That figure would be far lower if Christy Clark and her cronies hadn’t pillaged the ICBC coffers to the tune of $1.2 billion to “balance the budget” in her last years in office.
My question is: Why should I have to pay higher premiums to make up for that loss? We in B.C. already pay the highest auto insurance rates in the country. If the Horgan government had any semblance of ethics whatsoever, then they would replace that money into the ICBC kitty.
This is another good reason to privatize insurance. That way, the government cannot stick their hands into the cookie jar for some quick cash whenever they need it. This is probably the only reason the B.C. government will never act on this until people actually take up pitchforks and torches and start marching through the streets.
I find this absolutely inexcusable and one of the most perfect examples of financial mismanagement I have ever seen, both by ICBC themselves and the B.C. government.
No wonder some people who live in B.C. have Alberta plates and insurance. By the way, insurance for my truck in Alberta is about 40 per cent less expensive than here in British Columbia.
The time to do something is now.