Truck News

Feature

ICBC Premiums Capped at .4 Per Cent

VICTORIA, B.C. - Insurance Corp. of B.C. (ICBC) insurance premiums will only increase by .4 per cent across the board in 2004.The cap on premium increases was approved by the B.C. Utilities Commission...


VICTORIA, B.C. – Insurance Corp. of B.C. (ICBC) insurance premiums will only increase by .4 per cent across the board in 2004.

The cap on premium increases was approved by the B.C. Utilities Commission. New legislation requires the Commission to approve ICBC’s rate increases after a public process requesting rate changes.

Previously, the provincial Cabinet ruled on ICBC rates.

Optional insurance rates aren’t determined by the Commission, however, they too will increase by just .4 per cent in 2004. That’s to cover the premium tax increase, which is collected by the province on all insurance policies in B.C.


Truck News

Truck News

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
All posts by

Print this page


Have your say:

Your email address will not be published. Required fields are marked *

*