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

Letter: Prince George designated as a foreign trade zone

Cariboo-Prince George MP Todd Doherty says he’s been advocating for years

Column: why use cover crop cocktails?

Columnist David Zirnhelt on some the research into using a variety of cover crops

Quesnel Thunder skate away with Midget Tier 2 Provincial championship

Quesnel Midget team showed winning races to puck, winning battles equates to winning games

Alex Fraser Park Society makes plans for repairs and upgrades

A facility index report highlighted some areas in need of major maintenance

Canadian culture, gun laws make life safer in B.C.

Gun amnesties have helped, Public Safety Minister Mike Farnworth says

Vancouver Aquarium’s resident octopus released into ocean

Staff let the Giant Pacific octopus go into the waters near Bowen Island so she can reproduce

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Canucks sing the Blues as they fall to St. Louis 4-1

Berglund nets two, including the game-winner, to lift St. Louis over Vancouver

Calving season brings hope for Cariboo ranchers

Still a lot of work ahead to recover from the wildfires

Canada’s Kaetlyn Osmond wins figure skating world title

The 22-year-old fwon the women’s singles crown with her Black Swan routine

B.C. pooches celebrate National Puppy Day

Check out some of the submissions from around B.C. for National Puppy Day 2018

Alberta tells B.C. to stop opposing pipelines if it doesn’t like gas prices

John Horgan said he would like to see the federal government step in to deal with high gas prices.

Trudeau to formally exonerate Tsilhqot’in war chiefs hanged 1864/65

A delegation from the Tsilhqot’in Nation is travelling to Ottawa to hear Prime Minister Justin Trudeau formally exonerate the Tsilhqot’in war chiefs.

B.C. mother hit in truck rampage dies

Family confirms mother of four Kelly Sandoval dies almost two months after being hit.

Most Read