ICBC made something like 389 million dollars profit this year. (325 million for 2003) Many are calling for refunds. The decision has not been made yet, they say. Will they do it? ICBC is SUPPOSED to be a non profit enterprise. This public corporation is controlled by Gordon Campbell's liberals. They want to keep ICBC rates as high as possible. Why? Because Gordon Campbell wants to give some of this largess to his friends.
If private insurance companies want to come into BC, our rates are presently too low for them, they cannot compete and make profits ... so ... Gordon needs to keep ICBC rates UP, so that the private companies can be seen to be good for us. So they can come in and be lower than ICBC rates ... IF ICBC rates are artificially kept up.
They will of course, play by their own rules, and try to cherry pick the best clients. They will have no obligation to do otherwise. Which in turn would leave ICBC with all the bad risks. For instance, if Toyota Camrys are the choice of car thiefs, a private company can simply exclude Camry owners as clients. The result of course, will be higher rates at ICBC while the private companies reap high profits without any concern for British Columbians. And you can be sure NONE of those profits will go back into accident research, safe driving programs or such things as bait cars against crime.
Based on Gordon Campbell's record of working against the people of BC, does anyone trust him anymore? Is there a secret document somewhere outlining his plans for his foreign friends? (Like the information that recently came to light showing that the liberals are going to allow private lodges in our public parks?)
At least we have hope that somewhere, somehow, someone ... some liberal who still believes in British Columbians, will leak another document to us.
Sure ICBC is a monopoly, but comparing exact coverage across Canada, no private insurance company can match the rates.