ICBC applies for 6.3 per cent increase to basic insurance rates

The Insurance Corp. of B.C. says it will submit an application today to increase the basic insurance rate by 6.3 per cent.
ICBC is asking the B.C. Utilities Commission for the high-than-average increase after it lost $1.3 billion in the last fiscal year and is projecting a loss of $890 million this fiscal year.
Attorney General David Eby has referred to ICBC as a “financial dumpster fire” and the B.C. government has worked with the public insurer to introduce major changes to put it