ICBC is broke because the money they had went into general revenue for the province, says letter writer.

LETTER TO THE EDITOR: Government has had a hand in exacerbating ICBC’s woes

ICBC is broke because the money they had went into general revenue for B.C., says letter writer

To the editor,

ICBC and the provincial government have announced ICBC is broke and getting broker. How forgetful do they think we are? ICBC was in great financial shape – so great that the government raided their coffers. ICBC is broke because the money they had went into general revenue for the province. Wouldn’t it be wonderful, when going to the bank, if we could just remove money from the biggest bank accounts, no matter who they belonged to?

The government decided years ago to merge ICBC and the motor vehicle branch. Costs were downloaded to them to fund traffic safety programs. Fines for driving infractions bring in a stunning amount, but does that money go to ICBC to offset their costs? No. The money goes into general revenue for the province. What an amazing bookkeeping system.

Settlement offers are no longer on the table so it is off to court they go. A court system that is way overbooked, under duress by a shortage of judges, has now been overloaded to the max. ICBC has said they are in the ‘red’ – they are giving accident victims the choice of a low-ball offer or court – if even half these cases end up in court, does ICBC truly think they will be saving money? It is truly alarming to know B.C.’s finances are being handled in this fashion.

Hang on, folks, it’s going to be a bumpy ride.

G. Seaker, Nanaimo

RELATED: ICBC lowball injury offers aren’t driving up court costs, ministry says

RELATED: ICBC’s interim 6.3% rate hike approved


The views and opinions expressed in this letter to the editor are those of the writer and do not reflect the views of Black Press or the Nanaimo News Bulletin. If you have a different view, we encourage you to write to us or contribute to the discussion below.

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