ICBC board chair steps down

Paul Taylor's departure follows cost-cutting, insurance rate increases at Crown corporation

Former ICBC president and board chair Paul Taylor

Paul Taylor, former president of the Insurance Corporation of B.C., has resigned as chair of the ICBC board after a year and a half in that position.

ICBC issued a brief statement saying Jatinder Rai, a member of the board of directors since 2008, has been appointed interim chair. A spokesman declined further comment on the reason for Taylor’s departure.

“Mr. Taylor was appointed chair in July 2012 and his leadership has helped guide the corporation through challenging times, including the downsizing and restructuring of the company in late 2012,” the ICBC statement said.

ICBC imposed a 4.9 per cent rate increase for basic vehicle insurance in November, citing increasing injury claims and higher payouts. That followed an 11 per cent increase in basic insurance rates in 2012.

ICBC cut 260 positions in 2012 after an audit of its operations showed its management ranks had increased 41 per cent between 2007 and 2011.

Taylor resigned as president of ICBC in May of 2008.

 

Just Posted

Port Alberni’s firefighters learn to save themselves in ground survival training

Specialized training equipment brought in for Ground Survival Program

Port Alberni RCMP have their eyes on impaired drivers

March 17 to 23 is National Impaired Driving Prevention Week

Premier on hand as Paper Excellence finalizes Catalyst Paper purchase

Sale includes Crofton mill, plus mills in Port Alberni and Powell River

Three people deemed heroes after rescuing another in fiery crash on B.C. highway

Two people taken to hospital following head-on collision near Port Alberni

Port Alberni prepares to welcome hundreds of Indigenous youth delegates

Gathering Our Voices event will take place in the Alberni Valley from March 19-22

B.C. resident baffled about welcome mat theft

Security footage shows a woman and her dog taking the mat from the property on March 13

Research needs to catch up with B.C.’s gas drilling industry, experts say

Hydraulic fracturing review ordered by Premier John Horgan

Father thanks B.C. Mountie for shooting hoops with kids, ‘changing perspectives’

‘We’re just like everyone else,’ says Surrey officer who stopped to play basketball with kids

2019 BUDGET: As deficit grows, feds spend on job retraining, home incentives

Stronger economy last year delivered unexpected revenue bump of an extra $27.8 billion over six years

Memorable weekend of hockey and camaraderie in Island tournament

Many aspects of memorial concept tug at the heartstrings in Chemainus, Duncan

Victim succumbs to injuries suffered in Campbell River hit and run

The female pedestrian that was struck in a hit and run on… Continue reading

UPDATE: Missing Nanaimo mountain biker found safe

A search and rescue operation happened near Doumont Hill on Tuesday, March 19

Trans Mountain court hearing: B.C. says it won’t reject pipelines without cause

Canada says the proposed amendments to B.C.’s Environmental Management Act must be struck down

Carfentanil found in 15% of overdose deaths in January: B.C. coroner

Carfentanil is 100 times more powerful than illicit fentanyl and used to tranquilize elephants

Most Read