Corporation told to move $530 million from optional policies
Michael Kane
Vancouver Sun
The provincial government is ordering the Insurance Corp. of B.C. to reallocate more than half of its financial reserves, a move that could lower rates on basic auto insurance.
But watchdog groups say the directive also puts the government back in charge of regulating the publicly owned insurer, while reducing the role of the B.C. Utilities Commission to that of a rubber stamp.
Continue reading ICBC may cut basic auto insurance rates.
