VANCOUVER (NEWS1130) - ICBC's net income for the first half of the year was up over a quarter of a billion dollars. You might think that would mean a break on your basic car insurance but that's not going to happen.

$255-million net income over six months sounds like a lot of dough. However, ICBC's Adam Grossman says it's not enough to bring down basic insurance premiums.

"Our optional rates are down this year, the third time in four years they've gone down, and we're not proposing any increase in our basic rates this year, the second time in four years that's happened."

While basic insurance rates may be stable this year, Grossman says ICBC's investment income has started to decline.

That could be a hint we may face higher basic car insurance rates next year to make up for the shortfall.





What the fu.ck? You might raise rates when you make 1/4 billion in profit in 6 months.

Opps I thought it did not post the first time.

Salvation Army needs YOU! Hahahahahahahaha!

would they give me a gun?

Welcome to B.C. where the most livable city on planet earth is located!

thank you lousy white men for your foul-up?

Yawn

Kiss my lily white ass fa.gboy

the gov't is a scam, so is most corporate business.

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