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

Celebrate Port Alberni’s heroes with Our Town

Next evening celebration takes place at Gyro Rec Park

One hurt in Gertrude Street Bridge accident

Driver suffers medical emergency in Port Alberni crash

Motorcyclist caught driving 117 km/h on Beaver Creek Road

Port Alberni man was driving in a posted 50 km/h zone

Port Alberni soapbox derby has new track

Lower Argyle Street will be open to racers under six

UPDATED: Somass River closed to sockeye fishery

Early closure aimed at conserving Great Central Lake stock

VIDEO: Visual recap of Vancouver Island MusicFest

Walk Off The Earth, Passenger, Arlo Guthrie among highlights

Trudeau’s youth council divided over Trans Mountain pipeline purchase

A letter signed by 16 past and present members was made public today, asking the federal government to reverse course

Hulk Hogan reinstated into wrestling Hall of Fame

Hogan had used racial slurs caught on video when talking about his daughter sleeping with a black man

Island wide crime spree leads to multiple charges against Cowichan Valley resident

Social Media and citizens of the North Island played a big role in solving the case.

‘Lava bomb’ through roof of tour boat injures 22 in Hawaii

“An explosion occurred near the shoreline hurling hot lava rocks towards the boat and injuring several passengers”

B.C. teen meets Nicolas Cage

Filming mob movie in downtown Vernon, B.C.

Critics claim Trump “defended a tyrant”

Trump questions US intel, not Putin, on Russia 2016 meddling

B.C. MLAs choose new children’s watchdog

Jennifer Charlesworth has worked in government, social services

Most Read