ICBC board chair steps down

Paul Taylor's departure follows cost-cutting, insurance rate increases at Crown corporation

Former ICBC president and board chair Paul Taylor

Paul Taylor, former president of the Insurance Corporation of B.C., has resigned as chair of the ICBC board after a year and a half in that position.

ICBC issued a brief statement saying Jatinder Rai, a member of the board of directors since 2008, has been appointed interim chair. A spokesman declined further comment on the reason for Taylor’s departure.

“Mr. Taylor was appointed chair in July 2012 and his leadership has helped guide the corporation through challenging times, including the downsizing and restructuring of the company in late 2012,” the ICBC statement said.

ICBC imposed a 4.9 per cent rate increase for basic vehicle insurance in November, citing increasing injury claims and higher payouts. That followed an 11 per cent increase in basic insurance rates in 2012.

ICBC cut 260 positions in 2012 after an audit of its operations showed its management ranks had increased 41 per cent between 2007 and 2011.

Taylor resigned as president of ICBC in May of 2008.


Just Posted

VIDEO: Olympic medalist teaches swimming in Hope

Brent Hayden fondly remembers local swim meet from his youth

VIDEO: LEGO fundraiser builds playground purse

Inspired families built LEGO creations, helped Silver Creek build playground

PHOTOS: 100 years and counting for Boston Bar school

Boston Bar Elementary-Secondary School celebrates Centennial with a bang

Sunshine Valley songbird releases EP

Fifteen-year-old Ashley Pater has been singing and performing since age 9

Rescue boat theft marks third in 3 years for Agassiz-based SAR team

Eight-metre Spirit of Harrison rescue vessel was stolen Friday night, found Saturday morning

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

Suspect who attacked autistic man in Ontario could be from B.C.’s south coast: police

29-year-old man was sent to hospital with serious injuries

Privacy watchdog to explore Facebook leak

Canadian expert says his analytics company helped Trump campaign capitalize on private Facebook info

Woman struck and killed by self-driving Uber vehicle

Ride-hailing company suspends all road-testing of such vehicles in U.S. and Canada

Spring snow melt uncovers dirty needles in B.C. city

Vernon residents are upset with number of needles being found around town with spring melt

US would host majority of games at 2026 World Cup

A decision on the winning bid will be made June 13 at the FIFA Congress in Mexico

‘A perfect storm’: Gas prices could hit $1.60 by April, expert says

Prices will shoot up to 155.7 cents a litre by end of week or early next week

Most people in B.C. too ‘lazy,’ ‘apathetic’ to prepare for disasters: poll

Less than half of those surveyed aren’t insured for earthquakes and wildfires

Chris Hemsworth goes surfing in Tofino

The Australian actor donned a full body wetsuit to catch some waves on Vancouver Island this weekend

Most Read