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B.C. VOTES 2020: BC Liberals vow to end ICBC monopoly, open market to private insurance

NDP promises rate cut, COVID-19 rebate for 2021
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B.C. Attorney General David Eby announces changes to ICBC rate structure to respond to deficits, Feb. 6, 2020. (B.C. government)

B.C. Liberal leader Andrew Wilkinson has formalized his party91裸聊视频檚 long-standing promise to open up B.C.91裸聊视频檚 basic vehicle insurance monopoly to competition.

91裸聊视频淭he ICBC monopoly is a failure and it91裸聊视频檚 time to offer drivers cheaper rates,91裸聊视频 Wilkinson said Oct. 6. 91裸聊视频淭hat91裸聊视频檚 what competition will do and that91裸聊视频檚 what the B.C. Liberals will deliver.91裸聊视频

The NDP government paid a $1 billion bailout in the current budget to keep ICBC rates from rising higher, mostly due to soaring accident and injury claims and associated legal costs. Before the election called for Oct. 24, NDP leader John Horgan91裸聊视频檚 government legislated an out-of-court system for most disputes and promised a rate cut for 2021.

Wilkinson also promised to give younger drivers an unspecified break from higher rates that resulted from an overhaul of ICBC91裸聊视频檚 rate structure to charge based on driver risk rather than vehicle ownership.

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