B.C. Liberal leader Andrew Wilkinson has formalized his partyB次元官网网址檚 long-standing promise to open up B.C.B次元官网网址檚 basic vehicle insurance monopoly to competition.

B次元官网网址淭he ICBC monopoly is a failure and itB次元官网网址檚 time to offer drivers cheaper rates,B次元官网网址� Wilkinson said Oct. 6. B次元官网网址淭hatB次元官网网址檚 what competition will do and thatB次元官网网址檚 what the B.C. Liberals will deliver.B次元官网网址�

The NDP government paid a $1 billion bailout in the current budget to keep ICBC rates from rising higher, mostly due to soaring accident and injury claims and associated legal costs. Before the election called for Oct. 24, NDP leader John HorganB次元官网网址檚 government legislated an out-of-court system for most disputes and promised a rate cut for 2021.

Wilkinson also promised to give younger drivers an unspecified break from higher rates that resulted from an overhaul of ICBCB次元官网网址檚 rate structure to charge based on driver risk rather than vehicle ownership.

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