ICBC backs off proposal to link traffic violations with premium calculations

The Insurance Corporation of British Columbia (ICBC) has withdrawn a rate restructuring proposal that would have linked traffic violations with premium calculations, instead committing to province wide consultation on other options for improving the way risks are shared among its customers.
The move followed a meeting with the Minister of Public Safety and Solicitor General Shirley Bond. Bond said she instructed ICBC at the meeting to ensure it applies a test of “being reasonable.”
“And a hike in premiums for a single speeding ticket is not reasonable,” she added. “While the principles of a rate structure that differentiates between good drivers and bad drivers is worth considering, I’ve directed ICBC to go back to the drawing board and rethink the options.
“My job is to make sure that I’m looking after what’s best for B.C. families.”
In a press release, ICBC president and CEO Jon Schubert said the public insurer “didn’t do a good enough job of communicating with the public or with government about the changes we were considering, and we apologize for the concern this caused.”
ICBC said it would now undertake a province wide consultation to solicit input on a range of options. The consultation will encourage British Columbians to provide input through a range of tools such as stakeholder meetings, open houses and online feedback. Details on where and how customers can provide feedback will be announced in the coming weeks.
“It is really important for us to get this right for our customers,” said Schubert. “I want to assure customers that we will not recommend any changes without much broader consultation.”