Record profits for ICBC
Mar, 07 2005 - 10:50 AM
VANCOUVER/CKNW(AM980) Ė ICBC is being urged to immediately cut insurance rates after reporting record profits.
The Consumers Association of Canada says itís scandalous that rates arenít going down, especially for good drivers.
President Bruce Cran says the provincial government wants rates to remain high so that financial reserves are deep enough to allow competition with private insurers.
Cran says itís bizarre and accuses ICBC of picking the pockets of BC drivers to finance a crazy scheme by the government.