Ex-cabinet minister named ICBC chair

Barry Penner's appointment comes as the Crown agency prepares its final arguments for a 5.5 per cent rate increase

Barry Penner has been in private law practice since retiring as B.C. Liberal MLA for Chilliwack before the 2013 election.

Former B.C. environment minister Barry Penner takes over as chair of the Insurance Corporation of B.C. at the end of March.

Penner’s appointment comes as ICBC prepares its final argument for a 5.5 per cent rate increase that it started charging in November. The increase raises the cost of basic insurance by about $3.70 per month for the average driver, and still needs approval by the B.C. Utilities Commission.

Citing rising costs from personal injury claims and fraud, ICBC proposed a maximum 6.7 per cent increase. The province gave the Crown corporation permission for a one-time transfer of $450 million from its optional insurance business to subsidize the basic rate.

“The B.C. government will continue to work with ICBC to identify and implement measures that will mitigate the causes of rate increases, to help ensure that ICBC insurance rates remain as low and affordable as possible,” said Transportation Minister Todd Stone, announcing Penner’s appointment Tuesday.

The B.C. government continues to take a share of revenue from ICBC optional insurance sales, where it competes with private insurers for collision and other coverage beyond the mandatory basic insurance.

The current budget calls for ICBC to transfer $95 million this year, $148 million next year and $130 million in 2018-19.

 

Just Posted

Parksville man ‘parks’ horse during liquor store pit stop

As long as animal wasn’t jaywalking, no problem, says city official

Parksville roundtable highlights need for affordable housing, recreation

Mayor Ed Mayne held facilitated event in January to hear visions for city, council

RDN to form new group to replace Northern committees

Recreation commissioners disappointed with the decision

Second delivery of building units for 222 Corfield in Parksville arrives March 21

Vehicles should expect intermittent single-lane alternating traffic

Public input sought on proposed cannabis retail store in Coombs

Application to be reviewed by Regional District of Nanaimo

VIDEO: Can you believe it? This B.C. hill pulls cars backwards up a slope

Sir Isaac Newton had clearly never been to this Vernon anomaly when he discovered gravity

Paramedic staff shortage at critical level: B.C. union

A number of units were out of service due to lack of staffing in Lower Mainland, union says

B.C. lottery winner being sued by Surrey co-workers

They claim he owes them $200,000 each, in a lawsuit filed in B.C. Supreme Court in Vancouver

BIG READ: The two sides of the Strait of Georgia roe herring fishery

The case for the Strait of Georgia roe herring fishery Comox fisherman,… Continue reading

Fraser Health under fire again for taxiing homeless man from Langley to Hope

Patient sent to Hope shelter because a spot in the man’s home community couldn’t be located

Dead sea lion discovered on Hornby Island shoreline

Reports indicate animal was shot in the head

Celina Caesar-Chavannes quits Liberal caucus, sits as independent MP

The Whitby, Ont., MP has been a vocal supporter of Jody Wilson-Raybould and Jane Philpott

Island SPCA overwhelmed by 45 cats taken from Comox Valley property

Many of the cats will be transferred to branches in Nanaimo and Victoria

Woman punched on the sidelines of B.C. soccer game

Both involved were watching the U21 game in West Vancouver from the sidelines when things got heated

Most Read