The implications of ICBC’s 2016 rate changes on its capital reserves

August 26, 2016


by Richard C. McCandless,

On 25 August 2016 the Honourable Todd Stone and ICBC president Mark Boucher announced a proposed 4.9% increase in Basic insurance rates, and a 2.8% increase in Optional insurance rates, effective 1 November 2016. The Basic increase will now be subject to the approval of the BC Utilities Commission, which can only approve an increase in the 4.0% to 7.0% range.


ICBC_Occasional Paper No 12 26 August 2016