There are fewer executives at the Insurance Corporation of B.C. than two years ago, and their total pay packet is coming down, Attorney General David Eby says.

Eby was commenting on the showing total compensation for the top three ICBC executives was about $1 million in the current fiscal year, including the pay and bonus for former CEO Mark Blucher, who was replaced in late 2017.

91裸聊视频淲e have a new CEO at ICBC who has a different contract,91裸聊视频� Eby said Thursday. 91裸聊视频淎nd as senior executives move out, we91裸聊视频檙e evaluating their roles, whether they91裸聊视频檙e necessary. We91裸聊视频檝e also restructured significantly, to allow us to operate with fewer executives, and that91裸聊视频檚 one of the reasons why executive compensation is lower now than it was, despite inflation.91裸聊视频�

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Executive pay has been a hot-button issue with the public as ICBC has raised rates, but it is a small fraction of the increased costs that have driven an anticipated $1 billion deficit to the corporation. Accident and injury claims have soared, prompting the B.C. government to impose a cap on minor injury payouts that takes effect next year.

Fewer executives, fewer bonuses at this year says

91裸聊视频� Tom Fletcher (@tomfletcherbc)

The highest paid employee last year was not interim CEO Nicholas Jiminez, who has since been confirmed in that role. Geri Prior, the former chief financial officer, earned $415,685 in total compensation, including bonuses for the company91裸聊视频檚 investment performance.

91裸聊视频淓xecutives have different roles, so for example the executive in charge of investments at ICBC hit the targets that were set by the previous administration, so got full bonus under her contract that they had signed with her,91裸聊视频� Eby said. 91裸聊视频淏ut for executives responsible for the operations of ICBC, none of them received their full bonus this year, because obviously the financial performance of the corporation was not adequate.91裸聊视频�

tfletcher@blackpress.ca
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