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

27 years of supporting victims and survivors of crime and trauma

Marianne Brueckert with Victim Services says it is a gift to work with survivors of crime, tragedy

Hope Search and Rescue assist in flood response

Evacuation alerts and river monitoring carried out by HSAR together with the District of Hope

Chilliwack prolific offender a no-show for sentencing hearing

Warrant issued on May 17 for Jeffrey Michael Kizmann wanted for robbery

Province has been missing in action on flood protection, experts say

Political will to improve dikes lacking, says B.C.’s former flood safety chief

Black Press Media to launch Pipeline Full of Controversy series

Series covers Trans Mountain’s history, science, Indigenous reaction, politics and economics

Hunt continues for two suspects in Ontario restaurant explosion

The explosion left 15 people injured, but all victims have now been released from hospital

RCMP on scene to remove homeless housing protesters

Residents blocking the installation of modular housing in Maple Ridge

Toronto Raptors star to hold basketball camp in B.C.

DeMar DeRozan is hosting a four-day camp for players aged 6-16 at the University of Victoria

B.C. teacher charged with sexual offences involving two teens

Henry Kang, 50, of Abbotsford charged with two counts each sex assault and sexual exploitation

Military college students accused of violating Qur’an with bacon

Alleged acts by four cadets from the Royal Military College in Quebec caught on video

Canucks sign top prospect Elias Pettersson to entry-level deal

Slick centre drafted No. 5 overall in 2017 NHL draft

Wildfire northwest of Kamloops jumps to 1,600 hectares overnight

Ground crews and aircraft are responding to an estimated 1,600 hectare wildfire approximately 55 kilometers northwest of Kamloops, near the Deadman Vidette Road.

Former B.C. police chief dies in ATV accident

Ex-Nelson top cop began his career in Vancouver

Most Read