ICBC Regional Premiums and Settlements

Year
2019
Category
Transportation and Communication
NCLGA Ref#
R17
UBCM Ref#
B197

Status

NCLGA Executive Recommendation: No Recommendation | Referred to UBCM Executive | Endorsed as Amended by the NCLGA Membership

Details

Original Resolution: 

Whereas publicly available data indicates that rural BC residents are paying substantially more in ICBC insurance premiums than they are receiving in claims settlements and payouts;

And whereas ICBC has not released specific data showing, by postal code, the amount of money rural BC residents have collectively paid for ICBC insurance premiums and received in claims settlements and payouts over the past 5 years;

And whereas ICBC holds a vehicle insurance monopoly in BC and has made a strong public commitment to fairness in pricing:

Therefore be it resolved that ICBC release the data for the total value of premiums paid for insurance, and the total value of claims settlements and payouts, by postal code, for the years 2014 to 2018, and each year going forward;

And be it further resolved that ICBC either create a new, separate insurance pool for rural BC, excluding all urban areas over 100,000 population, or ensure there is balance in the value of insurance premiums paid and claims settlements paid out in each BC postal code.

 

Carried Amendment:

To remove the last paragraph: 

And be it further resolved that ICBC either create a new, separate insurance pool for rural BC, excluding all urban areas over 100,000 population, or ensure there is balance in the value of insurance premiums paid and claims settlements paid out in each BC postal code.

Responses

The Resolutions Committee advises that the UBCM membership has not previously considered a resolution asking for ICBC to establish a new, separate insurance pool for rural BC or for ICBC to ensure there is balance in the premiums paid and claim settlements paid in each Postal Code.

However, the Committee notes that the membership endorsed resolution 2006-B79 asking ICBC to review the insurance zones and boundaries to ensure fairness in the premiums paid in each zone.

North Central Local Government Association