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By Minister of Public Safety, Solicitor General and Minister responsible for ICBC Mike Farnworth

Sound Off

SOUND OFF: More money back in the pockets of B.C. drivers

Jun 30, 2021 | 11:07 AM

MILLIONS OF B.C. DRIVERS are set to benefit from a second COVID-19 rebate – fulfilling our government’s commitment to return pandemic-related savings to drivers. And after careful management, ICBC is now on sound financial footing to deliver lower premiums in the coming years, as well as the care you need if you’re injured in a crash.

Starting mid-July, ICBC will be distributing rebates averaging $120 per policy by credit card refund, direct deposit or cheque. With the first rebate averaging $190 per policy, many drivers are on track to receive about $310 in rebates by the end of summer. The amount you receive is determined as a percentage of the amount of premiums you paid.

These rebates are due to fewer crashes and lower claims costs during the pandemic. But this extra cash for people is also the direct result of different choices.

Our government breathed new life into ICBC by reforming the failed and misguided approach of the previous government. As a result, the company is now in a position to offer pandemic-related rebates.

Under the BC Liberals, ICBC faced billion-dollar losses that were ultimately paid for by people right across the province. They let rates spiral out of control, sold off assets and concealed the true state of the insurer’s finances.

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Even when ICBC generated revenues, instead of returning the savings to drivers, the government used the public insurer as a piggy bank to make its budget look balanced.

As New Democrats, we took a different approach. When we formed government in 2017, we were determined to fix the mess left behind.

On May 1^st, we brought in the new Enhanced Care Model, which is saving drivers an average of $400 per year and providing better access to care. By removing expensive lawyers and legal fees from the system, we are making ICBC work for British Columbians again with more affordable insurance rates and better coverage, so anyone injured in a crash gets the care they need.

Because of the choices that our government has made, drivers and families in B.C. are saving money and receiving better services.

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Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of CFJC Today or the Jim Pattison Broadcast Group.