Insurance Corp. of B.C. faces uncertain future

Canada’s only mandatory insurance provider is digging a deep financial hole and the B.C. government is looking for answers

Insurance Corp. of B.C. faces uncertain futureIt’s no secret that the Insurance Corp. of British Columbia (ICBC) is under financial distress. But should it be saved? In 2016-17, it suffered its largest loss ever – $889 million, an amount equal to 18 per cent of its total premiums. What’s worse, it’s heading for an even larger $1.3 billion loss this year,…