What’s New: In Brief (March 11, 2009)

ICBC is reducing optional rates by an average of 3% in 2009 and basic rates are expected to remain the same based on preliminary indications.
Customers who have purchased the same basic and optional policies from the ICBC over the last five years have, on average, seen their premiums go down, the company notes.
The company reported net income of Cdn$497 million in 2008, down Cdn$145 million (or 23%) from the previous year.
“Despite the drop in net income, ICBC’s financial performance was strong thanks to a moderation in claims and the corporation’s disciplined investment strategy,” the company reports. “ICBC’s conservative investment strategy generated a rate of return of just over 1% in 2008 during one of the most difficult economic times in memory.”

Captain John Hosty has been appointed director for the new health, safety, environmental training and emergency response branch for Environmental Solutions Remediation Services.
Hosty will be responsible for development and implementation of a broad range of health and safety and environmental response training and emergency response planning services that include:
•    hazardous materials handling;
•    regulatory compliance;
•    spill and emergency response; and
•    confined space management.