Re: “ICBC gets reprieve to figure out hike,” Sept. 1.
Finally the truth is out: Insurance Corp. of B.C. rates are among the highest in Canada. Now we’re told ICBC is in financial trouble.
Here’s an idea: Scrap ICBC in its present form, get it out of the business of issuing driver’s licences and licence plates. Stop it from funding roadside check stops and eliminate executive bonuses.
Next, remove its monopoly on basic insurance and make the corporation compete with other insurance companies for our basic as well as extended coverage.
These moves should allow ICBC to reduce staff, cut other expenses significantly and force it to operate as a true insurance company. Maybe then our rates would be among the lowest in Canada.
Of course, none of these measures will be implemented, but one can dream.
R. Barry Bennett
Colwood
