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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.

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If approved, it would mean an extra 3 dollars 50 cents a month for basic insurance coverage.

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