Close X
Sunday, November 24, 2024
ADVT 
National

ICBC relief rebate coming for drivers

Darpan News Desk The Canadian Press, 25 Mar, 2022 10:04 AM
  • ICBC relief rebate coming for drivers

VICTORIA - British Columbia is giving a one-time relief rebate to help drivers cope with the cost of rising fuel prices caused by Russia's invasion of Ukraine, Premier John Horgan announced Friday.

Horgan said the provincial government approached the Insurance Corporation of B.C. to provide drivers who have a basic auto insurance policy with a $110 rebate and commercial drivers with $165.

“Today, if we go to fill up at the pumps, sometimes it feels like it’s a bit of a hold up," he told a news conference. "Prices are at unprecedented levels and those prices at the pump are a direct result of (Russian President) Vladimir Putin’s invasion of Ukraine.”

Horgan said the one-time payment is a better approach than cutting fuel taxes because the price will only increase again at the pumps.

He said the corporation is in a financial position to cover the cost of $395 million rebate. It is forecasting an annual net income of $1.9 billion for the 2021-22 fiscal year ending March 31.

In 2018, David Eby, who was then the minister in charge of the insurance corporation, compared the finances of the public auto insurer to a dumpster fire.

The NDP brought in legislation to prevent governments from to dipping into reserves at the corporation "to pad their budgets," Horgan said Friday.

But the difference with the rebate, he said, is that the money is going back to policy holders, who finance the corporation.

"This is a rebate based on the robust position the corporation is in," Horgan said.

Public Safety Minister Mike Farnworth said drivers can expect the rebate to start rolling out in May.

MORE National ARTICLES

Canada, India to relaunch CEPA trade talks: Ng

Canada, India to relaunch CEPA trade talks: Ng
Following meetings in New Delhi with her Indian counterpart, Shri Piyush Goyal, Ng says the two countries will pursue an "early progress" agreement as an initial step.

Canada, India to relaunch CEPA trade talks: Ng

Canada adds 337,000 jobs in February: StatCan

Canada adds 337,000 jobs in February: StatCan
A gain of 337,000 jobs in February more than offset the loss of 200,000 jobs in January and dropped the unemployment rate to 5.5 per cent, falling below the 5.7 per cent level where it was at in February 2020.    

Canada adds 337,000 jobs in February: StatCan

Some colleges, universities to keep masking

Some colleges, universities to keep masking
The schools are opting for a more cautious approach to COVID-19, citing concerns about potential outbreaks, while provinces – including British Columbia, Alberta and Ontario – have pointed to promising public health indicators such as test positivity rates and hospitalizations as reasons for lifting mask mandates.

Some colleges, universities to keep masking

Illicit drug deaths in B.C. climbed in January

Illicit drug deaths in B.C. climbed in January
The coroner's service says illicit drugs caused 19 deaths in Northern Health, equal to a death rate of 74.5 per 100,000 residents, by far the highest rate of any health authority.

Illicit drug deaths in B.C. climbed in January

Man Shot in Guildford residence

Man Shot in Guildford residence
On March 10th, 2022 at 11:30 PM., Surrey RCMP received a report of shots fired in the area of 14100 and 104th Avenue. Frontline officers attended the area and located a male suffering from an apparent gun-shot wound.    

Man Shot in Guildford residence

B.C. Mountie charged with obstructing justice

B.C. Mountie charged with obstructing justice
The B.C. prosecution service says the officer in Kelowna was an investigator in the case. It says Const. Sean Eckland is due to appear in Kelowna provincial court on April 4.

B.C. Mountie charged with obstructing justice