Nicholas Jimenez, president and CEO of ICBC, was in Surrey on Wednesday to discuss proposed insurance changes with the Surrey Board of Trade. (Photo: Tom Zytaruk)

Nicholas Jimenez, president and CEO of ICBC, was in Surrey on Wednesday to discuss proposed insurance changes with the Surrey Board of Trade. (Photo: Tom Zytaruk)

Proposed insurance changes will leave 2/3 of B.C. drivers ‘better off’: ICBC

Nicholas Jimenez, president and CEO of ICBC, discussed proposed changes with Surrey Board of Trade

The president of ICBC says two-thirds of drivers will be “better off” than they are today with proposed auto insurance changes expected to take effect in September 2019. But if you want to know how these changes are going to affect you personally, he says, you’re going to have to wait.

ICBC’s president and CEO Nicolas Jimenez spoke to the corporation’s priorities for insurance changes and their impacts on businesses Wednesday morning during a “round table discussion” at the Surrey Board of Trade office in Whalley.

The corporation, he said, has an application before the utilities commission designed to “improve and fundamentally make more fair the way we’re treating the insurance rating, bringing major change to a rating scheme that we think will work better for a majority of British Columbians.”

“I think the biggest change is absolutely making sure we bring more accountability into the system. Currently today we think too many high-risk drivers don’t pay their share of insurance and we think conversely low-risk drivers are paying too much.”

“In the future we’re going to see in the scheme based on a driver-based model,” Jimenez said. “So today, drivers can escape accountability; the crashes are attached to the individual. In the future, crashes are going to be attached to an individual — I caused that crash, I own that crash, and that’s a really important change.”

Jimenez said the changes propose to extend the amount of discounts to drivers, which currently max out at 43 per cent after nine years. “In the future, you’re going to have up to 40 years to accumulate more discounts, and those discounts are going to increase to up to 52 per cent. We think that’s great for drivers.”

He said ICBC has a “big job” ahead of it to communicate the proposed changes to the public before September 2019. “So between now and then we’re going to see a lot of communication activities targeting not just customers but also our brokers.”

Jimenez said ICBC will be introducing a 10 per cent discount on basic insurance for people who drive less than 5,000 kilometres. “We know distance is directly related to risk and if you’re not driving your vehicle a substantial amount you are inherently bringing less risk to the road. It’s only one discount — we’re still looking at crash history and other features, but distance is something that we think will really benefit a lot of British Columbians.”

“This rate design is designed to improve things for two-thirds of drivers, so two-thirds of drivers will be better off in this rate design than they are today,” he said. “What we won’t know specifically is the individual impact on someone’s premium next year. In December of this year we’re going forward with an application with the utilities commission and we’ll be putting forward our rate need for next year, and at that time people will be able to have a conversation about well how will impact me specifically.”

READ ALSO: ICBC moves to tighten driver discount rules

Meantime, ICBC and police are expected to launch on Thursday a campaign against distracted driving, specifically targeting drivers who use their phone while stopped at a red light. According to ICBC, there are roughly 960 crashes in B.C. every day, many of which are caused by distracted drivers.

Jimenez noted that 140 red light cameras have been activated 24/7 in B.C.

Lindsay Matthews, ICBC vice president of communications, said “over a million excessive speeders” passed through intersection safety cameras over a two-year period. “So intersections are a very dangerous place.”

The cameras and other initiatives, she said, “are really going to supplement traditional law enforcement tools.”

“Law enforcement is challenged to make sure they can keep up with the growth as well,” Matthews said.

The provincial government is also applying a “high-friction surface treatment” to 14 high-collision locations in the Lower Mainland and on Vancouver Island, to help drivers stop faster. The idea is to reduce rear-end collisions.

This will include four interchange off-ramps and 10 intersections.

Two of the locations are in Surrey, at the intersection of Highway 10 and 176th Street eastbound and westbound, as well as the intersection of Highway 10 and Scott Road, eastbound and westbound.



tom.zytaruk@surreynowleader.com

Like us on Facebook Follow us on Instagram and follow Tom on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Protesters in support of farmers against the Indian government's recent agriculture bills took a drive through Penticton before standing in protest outside the Cherry Lane Shopping Centre on Dec. 5. (Brennan Phillips - Western News)
Rally in support of India’s farmers travels through Penticton

Around 30 protesters participated in the rally

Two Canadian petitions are asking to have elected officials removed from office. (Pixabay.com)
COLUMN: Petitions show loss of faith in democratic process

Online petitions from third-party sources have taken aim at elected officials in Canada

Summerland’s cenotaph was originally installed in front of the high school. The old school was located close to the corner of Rosedale Avenue and Jubilee Road. (Photo courtesy of the Summerland Museum)
Cenotaph and parks in Summerland honour fallen soldiers

Community memorials pay tribute to those who were killed in military service

COVID-19. (Image courtesy CDC)
81 new cases of COVID-19 detected in Interior Health Friday

One additional staff member at Kelowna long-term care home tests positive, no new deaths

A snow moon rises over Mt. Cheam in Chilliwack on Feb. 8, 2020. Friday, Dec. 11, 2020 is Mountain Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Dec. 6 to 12

Mountain Day, Dewey Decimal System Day and Lard Day are all coming up this week

A laboratory technician holds a dose of a COVID-19 novel coronavirus vaccine candidate that's ready for trial on monkeys at the National Primate Research Center of Thailand. (Mladen Antonov | AFP)
WEB POLL: Will you take a vaccine for COVID-19?

Doses are expected to arrive in the new year

Travis Hirlaka, Vernon
PHOTOS: Sunrise paints Okanagan skies

Residents in the Okanagan captured stunning shots of a colourful start to Saturday

Robert Riley Saunders. (File)
First Nations Leadership Council demands justice for victims of B.C. social worker

Union of BC Indian Chiefs calls actions of Robert Saunders ‘nothing short of complete depravity’

(City of West Kelowna)
Large housing development in Central Okanagan back on the table

Council considering rezoning to accommodate 184 housing units, project hopes for ~933 by completion

Staff and students at Vernon’s Fulton Secondary School were evacuated due to an electrical short that sent one person to hospital Friday, Dec. 4, 2020. (Kerry Hutter photo)
Vernon high school evacuated, one person injured by electrical short

Incident at Clarence Fulton Secondary forced brief evacuation Friday afternoon

Chinook salmon spawning in the Fraser River near Tete Jeune Cache. ((Shane Kalyn photo, property of the Upper Fraser Fisheries Conservation Alliance)
North-Okanagan Shuswap MP petitions government to reform salmon management

Mel Arnold tables petition to allow more angler access to non-threatened Fraser River chinook salmon

Shuswap Cider Company has applied for a licence that would accommodate a cider manufacturing facility, a tasting room and patio/lounge area at Westgate Market in Salmon Arm. (File photo)
Cider manufacturing facilty, tasting room and patio proposed for Salmon Arm

Council asked to raise a virtual glass to a licence for a cidery and amenities in Westgate Mall

It was an opening day filled with blue skies, sun and COVID-19 protocols at Vernon’s SilverStar Mountain Resort Friday, Dec. 4, 2020. (Brendan Shykora - Morning Star)
VIDEO: Passholders enjoy sunny opening day at Silver Star Mountain

Resort staff say parking reservations, COVID-19 protocols went smoothly Friday, Dec. 4

Most Read