An interim rate freeze to ICBC’s basic auto insurance rates has been approved by the BC Utilities Commission.
Effective beginning on April 1st, the freeze will remain in place until the Commission can complete a review of ICBC’s Revenue Requirements application.
That will include a public review of their claims cost and forecasted expenses through March of 2025, and of proposed changes to performance measures.
On December 12th, an Order in Council was issued by the Lieutenant Governor General, directing the BCUC to not decrease rates in 2023.
Three days later, ICBC submitted their application, requesting a zero percent rate change for the 2023 policy year.
Residents interested in becoming an intervener in the review can follow this link.
And those interested in submitting a comment, can do so via this link.
Comments