BC Conservatives Leader John Rustad calls the Insurance Corporation of British Columbia (ICBC) a “bloated monopoly” and a “broken system” and announces a new plan to end the insurance company’s monopoly across the province.
The party says it will bring fair, competitive car insurance to drivers across B.C.
“On top of that, David Eby and the NDP have stripped away the rights of accident victims to fight for the support they need to rebuild their lives. That’s not just wrong, it’s cruel,” Rustad said, according to a release Wednesday.
The party plans to end the monopoly on basic auto insurance and open up the market.
“By opening up the market, the Conservative Party will bring in new competition, which will lead to lower prices, better customer service, and improved options for all British Columbians,” it said.
Rustad says everyone deserves the freedom to choose an insurance plan that works well for them.
The party says under the current system, younger and older drivers face unfair rates because of their age. The party leader is committing to rate fairness, so no one is priced out by the market.
“Under ICBC’s monopoly, too many young people are being forced off the road by unaffordable insurance premiums,” Rustad said.
“We will make sure that everyone—whether you’re 18 or 80—has access to fair, affordable insurance rates.”
Rustad also condemns Eby’s “decision to strip accident victims of their right to fight for support.”
“Under the NDP’s no-fault insurance system, many individuals with life-altering injuries have found themselves unable to receive the support they deserve,” the party said.
The Conservative Party, if elected, says it will ensure “anyone with life-altering injuries has the right to representation and the ability to fight for the support they need to get their lives back on track.”
“The time for ICBC’s monopoly has come to an end. It’s time for real choice, fair rates, and support for those who need it most. The Conservative Party will deliver an auto insurance system that works for British Columbians, not the government’s bottom line,” the party leader said, according to the release.
-With files from John Ackermann.