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The ICBC ‘dumpster fire’: How much is really burning? | Sandra Kovacs

Thursday, February 08, 2018 @ 8:49 AM | By Sandra Kovacs

British Columbia Attorney General David Eby recently described the current state of the province’s automobile insurer, the Insurance Corporation of British Columbia (ICBC), as a “financial dumpster fire.” 

This headline-grabbing statement followed successive updates and press releases over the last few weeks and months informing the public about ever-escalating financial losses. The most recent news is that ICBC is estimated to lose $1.3 billion by the end of this fiscal year. This figure is grossly higher than previous projections and stands in stark contrast to the...