Drivers in British Columbia deserve better than ICBC.
The government monopoly auto insurance provider is a dumpster fire that burns hundreds of millions of taxpayer dollars without providing the quality of service most drivers would expect for their money.
The switch to a no-fault model means that people who are seriously hurt in collisions now have to go through ICBC bureaucracy to get payments, rather than going through the legal system. Lawyers and people who have been injured in car crashes argue that this change has led crash victims to be forced to wait months to see any compensation. Legal groups and the injured have challenged the change to a no-fault model in the courts, arguing that it is unconstitutional.
While survivors of catastrophic car crashes are left out in the cold, top bureaucrats at ICBC are laughing their way to the bank. Nicholas Jimenez, CEO of ICBC, took home half a million dollars in total compensation in the past year. The other executives took home more than $350,000 each. In 2019-20, the province would have ended the fiscal year with a surplus, if ICBC hadn’t cost the taxpayer $375 million in bailouts.
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