Close X
Saturday, November 23, 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

Permanent fixes coming for Coquihalla in B.C.

Permanent fixes coming for Coquihalla in B.C.
A statement from the ministry says it has begun the process to select contractors to design and complete the repairs at three of the seven damaged bridges along the Coquihalla Highway.    

Permanent fixes coming for Coquihalla in B.C.

B.C. patients waiting too long for surgery: doctor

B.C. patients waiting too long for surgery: doctor
Health Minister Adrian Dix told a recent news conference that 99.8 per cent of patients whose surgery was postponed in the first wave of the pandemic have had it, and that's the case for 94.2 per cent of those who did not get their procedure in the second and third waves.

B.C. patients waiting too long for surgery: doctor

269 COVID19 cases for Wednesday

269 COVID19 cases for Wednesday
There are 258 individuals hospitalized with COVID-19, and 49 are in intensive care. In the past 24 hours, one new death (Northern Health) has been reported, for an overall total of 2,975.

269 COVID19 cases for Wednesday

B.C. municipalities want joint housing action

B.C. municipalities want joint housing action
The report comes after Housing Minister David Eby recently said municipal governments are holding up housing developments in their communities and he’s preparing to introduce legislation to remove their final project approval powers.    

B.C. municipalities want joint housing action

VPD arrests alleged Komagata Maru memorial vandal

VPD arrests alleged Komagata Maru memorial vandal
The charge stems from a VPD investigation that was launched on August 22, 2021, when the Komagata Maru memorial, located in Coal Harbour, was defaced with white paint, hand prints, and graffiti. The memorial honours passengers who were aboard the Komagata Maru when the ship was denied entry to Vancouver after sailing here from India in 1914.

VPD arrests alleged Komagata Maru memorial vandal

Burnaby RCMP seizes about $100,000 worth of contraband cigarettes from Surrey home

Burnaby RCMP seizes about $100,000 worth of contraband cigarettes from Surrey home
Between December 25, 2021 and January 3, 2022, three businesses in industrial areas of Burnaby were broken into. Burnaby’s POST took conduct of the investigation and, with the assistance of local policing partners, were able to link the three break-ins and identify two suspects.

Burnaby RCMP seizes about $100,000 worth of contraband cigarettes from Surrey home