The Insurance Corporation of British Columbia (ICBC) is a provincial crown corporation in British Columbia created in 1973 by the NDP government of Premier Dave Barrett.

Because ICBC is a government entity, they are allowed to monopolize and completely control and dictate Insurance Rates/Premiums and Auto Claims without market competitors in BC. 

This creates an unfair situation for: New Drivers, Existing Drivers, Students, Single Mother’s and anyone in the middle class that wishes to participate in auto insurance. 

Without Market Competition, ICBC gets to set whatever prices they want for premiums without other local and provincial insurance businesses interfering. 

Their current business and economic structure is unsustainable and ICBC needs to be abolished and replaced with basic and affordable private insurance companies.

This is purely a work of opinion, and this opinion is shared with 1000’s of people in British Columbia.