If you don’t own a car, and you’re hearing about ICBC announcing a $110 rebate instead of simply LOWERING premiums, then you’re pissed off. Insurance is not a complicated business, like any other PRIVATE sector business; life insurance has ebbs and flows; premiums go up when there are a lot of claims, and premiums come down when there’s MORE competition in the insurance marketplace along with fewer claims.
You wouldn’t know much about market-based auto insurance if you lived in Saskatchewan, Manitoba, and BC. ICBC is by far the worst provincial auto insurance because B.C. voters only vote for the NDP, so the NDP does what they know works, which is to BUY VOTES during election time.
You get that “Canada Post” vibe when dealing with ICBC, entitled workforce, and no incentive for employees to be EFFICIENT with time or resources; BC voters have no other options; it is what it is.
Similar to when Petro Canada was run by the Federal Government, you’ll have people who will FEAR life without the government having a monopoly on the entire industry.
There are lots of socialists in British Columbia; it is what it is. I am glad I don’t live there. There’s this MYTH that Provincial or Federal Crown Corporations are separate from the government. The Conservatives in BC have insinuated that they want to at least REFORM ICBC, so obviously, people employed by ICBC will do what’s necessary to keep their jobs.
The same thing happens in Federal Politics. Justin Trudeau has a lot of FEDERAL employees working from home, so no matter how bad of a job he’s doing, you see a lot of FEDERAL employees posting positive things about Justin Trudeau all over the internet. This is the problem: when you allow the government to monopolize entire industries, the corruption becomes overtly blatant.
ICBC announces $110 rebate, freezes rates for another 2 years
| cbc.ca
Interesting times ahead!