ICBC - shocking losses revealed. Bend over boys

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bdan

New member
Apr 11, 2015
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Book keeping.
If you spend (or lose) your cash, you need to get it back.
Spent on us, paid back by us.
Expect a law suit in the near future. For privatization. Then watch it skyrocket.
 
F

felixthecat

Well-known member
Aug 28, 2011
1,575
36
48
wetnose said:
Bodyshops have a normal rate and an ICBC rate.
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The system is rigged. Most bodyshops can claim ICBC creates unfair competition.

I was rear-ended and had a choice: go to one of ICBC "wallet" shops and be serviced right away; or wait a few weeks for an ICBC estimate if I wanted to use a 3rd party bodyshop.
So the little guys cannot compete without an extra incentive for customers. I understand why my mechanic would charge ICBC their full estimated price but offer a cashback or a free extra job to a customer.
 
M

Mrmotorscooter

Well-known member
Dec 19, 2017
1,553
2,336
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ICBC was never intended to be a cash cow neither was BC Hydro, somehow the previous Lib’s figured it was just fine to clean out the cookie jar. Both those corporations were once on solid ground providing us excellent deals on ins. and electricity. Someone figured out we should not be so privileged and must pay higher and global rates even though it was public funds that put it all in place. Private funding is entitled to make a profit, public funds should be reinvested in the corporations which it was. ICBC once had a 6 Billion realestate portfolio wonder what happened to that does it even still exist?
 
S

sybian

Well-known member
Dec 23, 2014
3,560
916
113
Kamloops B.C.
Mrmotorscooter said:
ICBC was never intended to be a cash cow neither was BC Hydro, somehow the previous Lib’s figured it was just fine to clean out the cookie jar. Both those corporations were once on solid ground providing us excellent deals on ins. and electricity. Someone figured out we should not be so privileged and must pay higher and global rates even though it was public funds that put it all in place. Private funding is entitled to make a profit, public funds should be reinvested in the corporations which it was.
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Completely agree....it's funded by the very people who use it, maintained it ,and expanded to meet the demand.
Then some other government outfit comes in ,and sees profits lost, and claims global price for "their" product.
Screwing over the very people who invested, supported it with revenue,and helped build it...and leaving those clients that had the good will, no other option to change suppliers, because at the time the monopoly was a good thing to keep rates down.
 
W

Wolfman_jack

Member
Sep 9, 2006
36
2
8
J-Dogg said:
Just an update...ICBC claimed $1.3 billion loss

https://www.theglobeandmail.com/new...scal-years-first-nine-months/article37761586/

Press conference is expected Mon @ 11am

Looks like we getting screwed no matter what we do
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ICBC spends millions daily on lawyers to dispute/settle claims. Individual BC citizens injured in auto accidents spend millions daily trying to get reasonable claims settled. Insurance lawyers make out like bandits, ICBC costs rise and only those who can afford the best lawyers get decent settlements.

Time for no-fault insurance to be floated again. Who raised the biggest stink last time it was in the news? You guessed it -- insurance lawyers. Cut the lawyers out of the loop. Set reasonable compensation rates for various injuries and loss of earnings. Watch ICBC rates stabilize.
 
Q

Quarter Mile'r

Injected and Blown
May 17, 2005
3,597
134
63
Out of Town
And why is ICBC the post of topic these days?

Come on people, let's not forget our smiling Cheshire cat bitch! Who threw ICBC into ruin to begin with.

Misappropriating funds to fund other gov't interests was not what should have been done with public money
and when are those so-called insurance lawyers going to call her to the stand to testify what she did?
Yah right........in a pigs eye when you've been paid off under the table to keep your pie hole shut. :rolleyes:

But we all know what Lieberals are like. Right SR? LOL!!

I truly feel sorry for the NDP in this situation because the reigns of ruin are left in their hands
to fix yet again from prolonged liberalization of this province for way to god damn long
and we're going to reap the rewards folks yet again. Bend over and wince if you're prepared
to take it up the A**.

It's a sad state of affairs once again and those damn bureaucrats still keep getting away with it. :tsk:





.........................QM'r
 
Q

Quarter Mile'r

Injected and Blown
May 17, 2005
3,597
134
63
Out of Town
C

Cock Throppled

Well-known member
Oct 1, 2003
4,977
890
113
Upstairs
In January 2017 Gary Mason in the Globe and Mail revealed what was happening at ICBC. Did anyone notice?

Why did so many still vote for the Liberals? Todd Stone was the one who altered documents to hide his own report.

Those fuckers, all the way up to Christy Clark, Mike DeJong and Donut Boy should be charged with corruption for failing to protect the public interest. Their only concern was ransacking ICBC to pretend to balance budgets.

Where are all the people who bring up the fast ferries when theft is happening right in front of them now?
 
take8easy

take8easy

Well-known member
Jul 27, 2014
4,718
1,169
113
I was asked to bend over last month while renewing my insurance. It hurt so much that I had to start a thread to vent it out.
 
S

steiln

Member
Feb 11, 2010
44
0
6
Didn't the Liberals leave a billion or so surplus? NDP should send that money back to ICBC instead of whatever else they had planned. If not they are as guilty as Liberals were
 
girth-brooks

girth-brooks

Well-known member
Dec 12, 2012
2,065
192
63
British Columbia
steiln said:
Didn't the Liberals leave a billion or so surplus? NDP should send that money back to ICBC instead of whatever else they had planned. If not they are as guilty as Liberals were
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It's not that easy. I'm not even an NDP supporter, but it's a lose-lose situation. People will be screaming for more schools, more hospitals and staff, infrastructure in general- let alone the tunnel and bridge problems. It's going to take years to fix ICBC, maybe a decade.
 
westwoody

westwoody

Well-known member
Jun 10, 2004
7,429
6,581
113
Westwood
NDP in Manitoba tried to take a few hundred million from the Manitoba Public Insurance Corp to give to the University of Maniotoba.

Chretien took billions from the UI fund to put into general revenue and cook the books.

Politicians see a pile of cash and think "How can I buy votes with that?"
 
J

JimDandy

Well-known member
May 17, 2004
3,086
656
113
68
Lower Mainland, B.C.
The government either has to privatize ICBC (though that would require someone wanting to buy a company that will lose $1.3B this year) , or bring in competition for ICBC or bring in no fault insurance. None of these options will be popular with all segments of the BC population.

JD
 
Q

Quarter Mile'r

Injected and Blown
May 17, 2005
3,597
134
63
Out of Town
storm rider said:
You dragged me into this so I will just plain KILL anything you have to say with regards to being "pro" NDP...."PRO" as in coming up with ANY examples of ANY NDP government in CANADA(thankfully they are ALL Provincial) where the NDP has NOT run that Province into the ground and DECIMATED it.SR
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WOW!!! :tsk:

Who pissed in your cornflakes today? Nice of you to come on with constructive criticism.
Like what's hiz name said. Don't feed the troll and I thought I was being nice as I know
your hate for Lieberals and thought you would just come on and say something like,
"yup you got it" oooooh, but no......
Stupid me again.

That shit you say I wanted was not who I voted for man.
16 years if Communist liberalism is now at the head. We will see what that poor NDP
Gov't is going to do to fix this and you know who is going to pay..
That's what the NDP is dealing with right now.

The way you commented the last 16 years was the NDP's fault. I guess I can't argue with that
considering you're going to kill anything about being Pro NDP. :rolleyes:

Okay then, what would your holier than thou sell everything off to the highest bidder
Progressive conservative shmucks do to rectify what the lieberals did to ruin ICBC?
Tell the NDP it was their fault for letting the lieberals get away with it?

LOL!! That sounds just like what the Cons would say.

Thanks for being "dragged" into this thread and coming on here with such a pleasant attitude.
I only hope the NDP can solve this problem and do EXACTLY the opposite of what you say they
are like so that you'll have a heaping helping of crow to chow down on.

Btw, I hope you're enjoying your NDP you have in Albertin Land,
ours is at the crossroads to try and fix a problem. Looks like the last election
in Alberta fixed their problem too. :nod:





......................QM'r
 
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