ICBC is heading for a $1.3 billion loss this year.
auto insurance market performance
Auto insurance is set to become a centrepiece policy for the upcoming provincial election. Not only are people hopping mad across the province as they face rising premiums, but there is also a neat answer to the issue of the day offered by Howard Hampton and the NDP: public insurance.
Driving the Hampton way apparently means lower costs, low and stable premium rates, and fairer insurance access. Or at least that is what the NDP web site advertises. As the man says so often, the answer is "publicpower", a code word for nationalizing private sector activity.