Four options are missing from this vote list:
-Fire all upper management
-Reduce executive salaries
-Government can not take ICBC funds to balance their budget
-Government cannot take any money out of ICBC funds ever!
Gus - 6 years ago
What are the police doing? There are so many bad drivers, I see rear end collisions every day on hwy.1 because of people tailgating at 100 kph. Wtf, need more cops pulling these morons over, I hardly ever see cop cars on the streets enforcing, you could park a cop car at any busy intersection and they could write tickets all day. It's a freaking gong show out on the roads of metro van.
Rob Cross - 6 years ago
John's Dad, you should be crying at your own foolishness. Just because ICBC post their numbers, doesn't mean they're reliable. Accounting regulations leave significant leeway for playing with numbers. It's called accruals. Companies manipulating accounting is why the ACCRUAL ANOMALY is arguably the best-proven way to outperform indexes in the stock market.
Privatizing will increase competition. Companies stupid enough to pay out for false and exaggerated claims will get put out of business by ones who aren't. With ICBC, drivers in BC pay more insurance than every other province.
One of my tenants causes accidents every year. Now not being able to find a company to insure her works out to be like a license suspension for her bad habits. ICBC would insure her though.
Kim - 6 years ago
Blame the legal community for this debacle. How is it that BC has the highest proportion of lawyers? Why are law firms from the States setting up shop here to deal with injury claims? The ICBC lottery is too good to pass up. Judges making decisions on injury claims used to be the very lawyers who sued for ICBC money. Eby is a lawyer himself. Of course he's not interested in cutting off the gravy train. Look up the case on the Whistler chiropractor who was in low speed bump and was awarded over $6m a couple of years back. He claimed he wouldn't ever be able to work again. Months after the award was made, he back up and running his practice again. That's just one example. Is this fair compensation? How's that working out for the motoring public?
I have maximum discount, paying almost $2000 per year for my insurance and that's expected to go up next year. We need no-fault now! You can bet the Trial Lawyer's Association is going to fight change tooth and nail on this. Charging people bad drivers more is a band-aid on this hemorrhage.
Jeff - 6 years ago
No fault insurance is clearly the answer. The outrageous costs of claims in BC compared to the rest of Canada is clearly indicative of a fixed system that pays lawyers and claim far more than should be the case. To suggest that the system is being gamed is not out of line.
Krash - 6 years ago
Americans are to blame, they want to take over insurance and lawsuit business.
Mark - 6 years ago
Happy "Densification".
A careful study of the makeup current BC driver population would be required.
Also take note, cars are made differently now, more replacements parts rather then fixables. Luxury car should be covered under insurance proportional to its upkeep. I wonder how much money ICBC lose per luxury car above $50k
Fault blaming at this moment help no one. You cant change corruption. Private or public, there are fat cats, just different smell.
jonny - 6 years ago
if icbc can provide trucking companies up to 50% discount for their owner-operators, why cant icbc give this type of discount to the good drivers? icbc is bit fishy and i cant wait until the truth comes out.
John's Dad - 6 years ago
It's people like John that make me want to cry. Knowing that people can be this misinformed, and say things like fake numbers. Maybe you should take a look at ICBC's finances, they are posted online for everyone to see. It's not that hard to go through if you finished Grade 12.
We're dealing with a multi-pronged problem here. Use your heads, stop screaming privatize. For everyone that wants us to go private, please for the love of God tell me how this is going to reduce the claims costs when your next door neighbor or co-workers gets into a minor rear ender and is asking for six figures. Someone tell me how private insurance is going to change any of that? Pretty sure it's going to smell like caps and/or you will never be able to afford insurance again because it'll be just like old times before ICBC was invented in the first place.
John - 6 years ago
Privatize. A government run monopoly is the definition of an inefficient company. If they can't figure out how to run it without losing a billion! a year, why are they hanging on so tight to the organization. Let private companies come in an compete against one another.
Maybe the numbers that ICBC have disclosed aren't actually true!? What a concept, ICBC cooking the books to get what they've wanted all along - a system that looks and works like WCB.
Johnny - 6 years ago
Like many, wages are not the problem, it is the out of control legal costs. Bring in injury cap management which can be defined by looking at other provinces and mimic what works for them. Have you seen all the ambulance chasing lawyers on TV lately. We are becoming like the United States and sue everyone for a minor accident.
Then go after the repair costs, freaking ridiculous what they charge for minor repairs.
Then after this is done, you can do what the public always does and go after wages and benefits of the organization.
Dianne Williams - 6 years ago
Before we start penalizing drivers let's make sure this company is being managed properly. First thing I would do is look at the executive salaries. Why on earth do 7 out of 10 execs make more than 300k per year? Did they receive bonuses last year? Bonuses should be performance based. No bonuses none should be handed out if the company isn't doing well. Are insurance companies in other provinces having these issues? Let's look at some new models and bring in some competition. Clearly there's some mismanagement happening here.
Ahoy - 6 years ago
The good ship icbc has been scuttled, let the top secret records sink with her. Those of you in the lifeboats can now use the media to blame the foreigners.
Call it the foreign car drivers tax.
martin - 6 years ago
Private companies? Like Ontario? Or what about gas companies, or cellphone providers, or internet provides, or cable companies? The way things stand look bad, but let's not kid ourselves that going private is going to make things better. BC Ferries went "private" and prices still went up and now we want to make it public again.
Wally - 6 years ago
Get rid of ICBC. We need private companies. That hotdog stand that Christie Clark referred to applies to both Liberals & NDP
Andrew - 6 years ago
Privatize and let the free market sort it out, competition breeds innovation.
Amanda - 6 years ago
Here’s an idea .. get rid of icbc all together ! It’s time we get options like every other province
Chris - 6 years ago
-Restrict legal costs and how much lawyers can charge on claims.
-Red light cameras will not help with the injury claims resulting from rear-enders and parking lot accidents
-revamp the litigation process for injury claims so they’re not tying up precious court time such as involving third party mediators for all
-use model similar to Worksafe where person cannot have more than 1 or 2 types of treatments at a time. Put a limit on each type of treatment (There are many that are in excess of 50 treatments with little result).
Chris - 6 years ago
Who decides what "bad" drivers are? Seems like a ploy for political points instead of fixing the problem. Also the huge costs that autobody shops charge and minor injury claims it seems like a no brainer that this would make a large impact.
Yvonne - 6 years ago
Poor choice of options on this survey
Gordon - 6 years ago
Reduce the layers of management at ICBC and allow competition from private insurers
Jason - 6 years ago
Penalizing bad drivers would help, but let's see what tune you sing when you get a letter in the mail telling you that you are being sued and going to go through legal hoops from your minor parking lot nudge. Sure it was your fault, but should your insurance rates really go through the roof when they are already high because some faker is saying they're paralyzed now from a little bump? Yeah right.
Executive salaries account for only 1/20th of 1% of the Total Revenue ICBC made over 12 months ($4.5billion). Claims costs ate up $5.2billion. Maybe we should look at why claims are costing so much instead of the executive salaries (I don't agree with the bonuses either). Focus on the big problems.
To anyone thinking charging higher rates to bad drivers will fix anything, think about this.
They said some claims that are minor are costing $450,000 to settle. Say you increase that driver's insurance by $2k a year, then over 60 years, you only recover $120k. The remaining $320k comes out of our pockets and our insurance rates still go up because of the ridiculous settlement dollars for collisions where the car damage is minor.
ICBC said over 20% of their claims costs, the $5.2billion is going to legal costs. Which means we could potentially be paying a billion dollars to the lawyers in BC. I don't know about you, but it pisses me off knowing that my car insurance of over $2k a year could be reduced by $400 if not for lawyers.
Sick of bad drivers, sick of red light runners, sick of lawyers advertisements, sick of exaggerators. We have a social problem in BC.
How about we hear from everyone that received a letter being sued for a basically nothing bump?
Bob - 6 years ago
It is time to PRIVATIZE. If you can’t run a MONOPOLY Successfully. You won’t succeed at rejuvenation!
Dave Lang - 6 years ago
bring back no fault insurance
Rob Cross - 6 years ago
Try reducing their own costs. At $1680 average insurance, drivers in BC already pay the highest insurance in Canada. If other insurance companies can be profitable charging less, ICBC has to take responsibility for their losses.
Tom - 6 years ago
Cut salaries and bonuses to ICBC managers and directors first. Should have been an option on this survey
Reg Nordman - 6 years ago
Give drivers a choice. Lower rate with no fault clause, highest rates without no fault clause.
Do all the above except capping auto-body costs. Need industry regulated/updated guides to common repairs.
Four options are missing from this vote list:
-Fire all upper management
-Reduce executive salaries
-Government can not take ICBC funds to balance their budget
-Government cannot take any money out of ICBC funds ever!
What are the police doing? There are so many bad drivers, I see rear end collisions every day on hwy.1 because of people tailgating at 100 kph. Wtf, need more cops pulling these morons over, I hardly ever see cop cars on the streets enforcing, you could park a cop car at any busy intersection and they could write tickets all day. It's a freaking gong show out on the roads of metro van.
John's Dad, you should be crying at your own foolishness. Just because ICBC post their numbers, doesn't mean they're reliable. Accounting regulations leave significant leeway for playing with numbers. It's called accruals. Companies manipulating accounting is why the ACCRUAL ANOMALY is arguably the best-proven way to outperform indexes in the stock market.
Privatizing will increase competition. Companies stupid enough to pay out for false and exaggerated claims will get put out of business by ones who aren't. With ICBC, drivers in BC pay more insurance than every other province.
One of my tenants causes accidents every year. Now not being able to find a company to insure her works out to be like a license suspension for her bad habits. ICBC would insure her though.
Blame the legal community for this debacle. How is it that BC has the highest proportion of lawyers? Why are law firms from the States setting up shop here to deal with injury claims? The ICBC lottery is too good to pass up. Judges making decisions on injury claims used to be the very lawyers who sued for ICBC money. Eby is a lawyer himself. Of course he's not interested in cutting off the gravy train. Look up the case on the Whistler chiropractor who was in low speed bump and was awarded over $6m a couple of years back. He claimed he wouldn't ever be able to work again. Months after the award was made, he back up and running his practice again. That's just one example. Is this fair compensation? How's that working out for the motoring public?
I have maximum discount, paying almost $2000 per year for my insurance and that's expected to go up next year. We need no-fault now! You can bet the Trial Lawyer's Association is going to fight change tooth and nail on this. Charging people bad drivers more is a band-aid on this hemorrhage.
No fault insurance is clearly the answer. The outrageous costs of claims in BC compared to the rest of Canada is clearly indicative of a fixed system that pays lawyers and claim far more than should be the case. To suggest that the system is being gamed is not out of line.
Americans are to blame, they want to take over insurance and lawsuit business.
Happy "Densification".
A careful study of the makeup current BC driver population would be required.
Also take note, cars are made differently now, more replacements parts rather then fixables. Luxury car should be covered under insurance proportional to its upkeep. I wonder how much money ICBC lose per luxury car above $50k
Fault blaming at this moment help no one. You cant change corruption. Private or public, there are fat cats, just different smell.
if icbc can provide trucking companies up to 50% discount for their owner-operators, why cant icbc give this type of discount to the good drivers? icbc is bit fishy and i cant wait until the truth comes out.
It's people like John that make me want to cry. Knowing that people can be this misinformed, and say things like fake numbers. Maybe you should take a look at ICBC's finances, they are posted online for everyone to see. It's not that hard to go through if you finished Grade 12.
We're dealing with a multi-pronged problem here. Use your heads, stop screaming privatize. For everyone that wants us to go private, please for the love of God tell me how this is going to reduce the claims costs when your next door neighbor or co-workers gets into a minor rear ender and is asking for six figures. Someone tell me how private insurance is going to change any of that? Pretty sure it's going to smell like caps and/or you will never be able to afford insurance again because it'll be just like old times before ICBC was invented in the first place.
Privatize. A government run monopoly is the definition of an inefficient company. If they can't figure out how to run it without losing a billion! a year, why are they hanging on so tight to the organization. Let private companies come in an compete against one another.
Maybe the numbers that ICBC have disclosed aren't actually true!? What a concept, ICBC cooking the books to get what they've wanted all along - a system that looks and works like WCB.
Like many, wages are not the problem, it is the out of control legal costs. Bring in injury cap management which can be defined by looking at other provinces and mimic what works for them. Have you seen all the ambulance chasing lawyers on TV lately. We are becoming like the United States and sue everyone for a minor accident.
Then go after the repair costs, freaking ridiculous what they charge for minor repairs.
Then after this is done, you can do what the public always does and go after wages and benefits of the organization.
Before we start penalizing drivers let's make sure this company is being managed properly. First thing I would do is look at the executive salaries. Why on earth do 7 out of 10 execs make more than 300k per year? Did they receive bonuses last year? Bonuses should be performance based. No bonuses none should be handed out if the company isn't doing well. Are insurance companies in other provinces having these issues? Let's look at some new models and bring in some competition. Clearly there's some mismanagement happening here.
The good ship icbc has been scuttled, let the top secret records sink with her. Those of you in the lifeboats can now use the media to blame the foreigners.
Call it the foreign car drivers tax.
Private companies? Like Ontario? Or what about gas companies, or cellphone providers, or internet provides, or cable companies? The way things stand look bad, but let's not kid ourselves that going private is going to make things better. BC Ferries went "private" and prices still went up and now we want to make it public again.
Get rid of ICBC. We need private companies. That hotdog stand that Christie Clark referred to applies to both Liberals & NDP
Privatize and let the free market sort it out, competition breeds innovation.
Here’s an idea .. get rid of icbc all together ! It’s time we get options like every other province
-Restrict legal costs and how much lawyers can charge on claims.
-Red light cameras will not help with the injury claims resulting from rear-enders and parking lot accidents
-revamp the litigation process for injury claims so they’re not tying up precious court time such as involving third party mediators for all
-use model similar to Worksafe where person cannot have more than 1 or 2 types of treatments at a time. Put a limit on each type of treatment (There are many that are in excess of 50 treatments with little result).
Who decides what "bad" drivers are? Seems like a ploy for political points instead of fixing the problem. Also the huge costs that autobody shops charge and minor injury claims it seems like a no brainer that this would make a large impact.
Poor choice of options on this survey
Reduce the layers of management at ICBC and allow competition from private insurers
Penalizing bad drivers would help, but let's see what tune you sing when you get a letter in the mail telling you that you are being sued and going to go through legal hoops from your minor parking lot nudge. Sure it was your fault, but should your insurance rates really go through the roof when they are already high because some faker is saying they're paralyzed now from a little bump? Yeah right.
Also, @Tom,
http://www.icbc.com/about-icbc/company-info/Pages/Annual-Report.aspx
Executive salaries account for only 1/20th of 1% of the Total Revenue ICBC made over 12 months ($4.5billion). Claims costs ate up $5.2billion. Maybe we should look at why claims are costing so much instead of the executive salaries (I don't agree with the bonuses either). Focus on the big problems.
To anyone thinking charging higher rates to bad drivers will fix anything, think about this.
They said some claims that are minor are costing $450,000 to settle. Say you increase that driver's insurance by $2k a year, then over 60 years, you only recover $120k. The remaining $320k comes out of our pockets and our insurance rates still go up because of the ridiculous settlement dollars for collisions where the car damage is minor.
ICBC said over 20% of their claims costs, the $5.2billion is going to legal costs. Which means we could potentially be paying a billion dollars to the lawyers in BC. I don't know about you, but it pisses me off knowing that my car insurance of over $2k a year could be reduced by $400 if not for lawyers.
Sick of bad drivers, sick of red light runners, sick of lawyers advertisements, sick of exaggerators. We have a social problem in BC.
How about we hear from everyone that received a letter being sued for a basically nothing bump?
It is time to PRIVATIZE. If you can’t run a MONOPOLY Successfully. You won’t succeed at rejuvenation!
bring back no fault insurance
Try reducing their own costs. At $1680 average insurance, drivers in BC already pay the highest insurance in Canada. If other insurance companies can be profitable charging less, ICBC has to take responsibility for their losses.
Cut salaries and bonuses to ICBC managers and directors first. Should have been an option on this survey
Give drivers a choice. Lower rate with no fault clause, highest rates without no fault clause.
Do all the above except capping auto-body costs. Need industry regulated/updated guides to common repairs.