In an announcement late on Wednesday, BC Conservative Leader John Rustad said he would “end ICBC’s monopoly and bring fair, competitive car insurance to drivers across the province” if he becomes premier.
Rustad said British Columbians need choice in their insurance options.
“ICBC is a bloated monopoly,” Rustad said in a statement.
“After years of mismanagement, British Columbians are stuck with a broken system. 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 his plan will allow for insurance providers to compete in the marketplace.
He also promised to “ensure rate fairness for all drivers” so that no one is priced out of the market and to “restore rights for accident victims,” adding that anyone with life-altering injuries due to an accident has the right to representation and the ability to fight for the support they need.
At an event on Thursday morning, Rustad said his party would remove the no-fault model on serious injuries so that people can “have that representation and get what they need.”
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He said they will keep the no-fault model for minor injuries.
The BC NDP said this announcement from Rustad would cost British Columbians more.
“Rustad’s plan pads the pockets of private insurance companies and expensive lawyers,” Mike Farnworth, a BC NDP candidate, said in a statement.
“Bringing costly lawyers back into the process would force people to battle in court and increase rates by $500 a year or more. That’s a risk people can’t afford.”
At a press conference unveiling his party’s platform on Thursday morning, BC NDP Leader David Eby said that under a private insurance system, young drivers would pay 100 per cent more, in line with the cost in Alberta or Ontario.
Those provinces have private insurance models similar to what Rustad suggests, Eby said.
“The fact that John Rustad would directly target young people, propose to double their insurance rates, as they are, and we can provide the numbers, in Alberta and Ontario, double their car insurance at a time when young people are struggling with affordability, I think is reckless,” he added.
“In order to pander to high-paid personal injury lawyers and private insurance agencies from Toronto. It doesn’t benefit us. And so I couldn’t disagree with it more.”
Eby said Rustad’s plan is a “direct threat to affordability” for British Columbians and that Rustad “knows that.”
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