ICBC seeking to raise basic insurance rates
ICBC is seeking a rate increase for basic insurance.
The provincial insurance corporation is asking for a rate hike of 4.9%.
Transportation and Infrastructure Minister Todd Stone says there are a number of cost pressures on ICBC.
The proposed increase needs to be approved by the B-C Utilities Commission before it can be brought in.
If approved, it would mean an extra 3 dollars 50 cents a month for basic insurance coverage.