ICBC Rate Fairness



What was this engagement about?

The B.C. government and ICBC wanted to introduce changes to the current system to make insurance rates more fair for British Columbians by making all drivers more accountable for their decisions and driving behaviour.
 
The model ICBC uses to help determine insurance rates is more than 30 years old. While it has seen some improvements over the years, it is out of date. This means that, some drivers are paying more and some drivers are paying less than the risk they represent.
 
British Columbians have been saying for years that the system would be more fair if lower risk drivers paid less for their insurance, and higher risk drivers paid more. We agree’d and looked at making changes to the way insurance rates are determined.
 
There were several ways to participate:

  • Submit your feedback by email or mail.
  • Complete the online questionnaire

 

How can my contribution make a difference?

Your feedback helped design an improved auto insurance rating system for British Columbians, helping make insurance rates more fair and better reflective of drivers’ levels of risk on the road, and helped to determine how quickly changes will be implemented.
 
The consultation public engagement results have also helped inform ICBC’s application on Basic insurance rate design to its regulator, the British Columbia Utilities Commission.
 

Details of the Consultation:

Date: March 5 – April 5, 2018

Status: Closed

Location: Province-wide

Category: Government

Type: Online, E-mail, Mail
 
 

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