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

Business for Sea Otter Eco Tours tripled in 2019

The Eco Tours season runs from May 1 to Oct. 1.

Community volleyball at PHSS

The program was formed for the community and in the hopes of getting youth off of the street.

Port McNeill Library release five-year plan

VIRL recently released its vision and operating plan for 2020 through to 2024/25.

Port Hardy awarded ‘Level 4’ recognition by Green Communities Committee

District awarded Level 4 recognition - ‘Achievement of Carbon Neutrality’.”

2019 FEDERAL ELECTION: North Island-Powell River candidates address other issues of importance

“Other than the topics already discussed, what is the most important issue in your constituency?”

VIDEO: Trudeau plays defence in Maritimes today while Scheer fights for seats in Quebec

NDP Leader Jagmeet Singh, whose party has been on the rise in recent polls, is campaigning in Toronto

Court action in Trail acid spills may take years

B.C. court case involves a number of defendants and a number of plaintiffs

In the news: Sprinting to the election finish line and anger amid Manitoba storms

First Nations residents forced to evacuate their Manitoba homes after a recent snowstorm

BC Ferries sees steady traffic of post-Thanksgiving weekend travellers

Ferries filling up fast, sailing waits at some terminals

‘Save the kids!’ Dorian survivor tells the harrowing story of his Canadian wife’s death

Family held a funeral and placed Alishia Liolli’s remains in a niche at a cemetery in Windsor, Ont.

Okanagan woman, 91, votes at advance polls despite broken hip, shoulder and wrist

Angela Maynard has voted in almost every election during her lifetime

Heiltsuk Nation open first Big House in 120 years in northern B.C.

Opening means the community now has an appropriate space for spiritual and ceremonial events

Singh says NDP would form coalition with the Liberals to stop Tories

Singh was in a Liberal-held riding Sunday afternoon in Surrey where he was pressed about his post-election intentions

‘My heart goes out to the mother’: B.C. dad reacts to stabbing death of Ontario boy

Carson Crimeni, who was also 14, was bullied relentlessly, his dad says

Most Read