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

Chilliwack homeless camp dismantled on Monday

Mostly co-operative group emerged from the woods with possessions and dispersed

Chilliwack trustee calls LGBTQ school program ‘weapon of propaganda’

Barry Neufeld published the comments on his Facebook page, contradicting board policy

$9,000 in bridge tolls shocks Maple Ridge man

Jeffrey Hann was shocked to learn he owed more than $9,000 in Golden Ears Bridge tolls

Gritty GW Graham Grizzlies crush Pitt Meadows Marauders

Five touchdowns from Von Richardson led the way in a 47-14 road romp for GWG

V.I. Raiders win B.C. football championship

Nanaimo’s junior team defeated the Westshore Rebels 21-7 Saturday on a rainy night in Victoria

VIDEO: Daze of Derby hosts teams from around B.C. and Washington

Reformatted tourney squeezed all the action into a one-day event.

B.C. NDP convention set for Victoria

Premier, federal leader Jagmeet Singh to add energy

Silver Creek farm search expands north

RCMP were seen collecting evidence three kilometres north of the farm where human remains were found

Ferries re-routed due to fluid spill at Nanaimo’s Duke Point

At least one sailing from Tsawwassen to Duke Point was redirected to Departure Bay

‘Angels’ help save life of Langley senior

Wilf Driedger believes he wouldn’t be here today if not for the quick action of two strangers

B.C. couple hope boat drone becomes first to cross Atlantic

Colin and Julie Angus of Victoria to have drone collect environmental data en route

B.C. casino accused of illegal activity follows rules: operator

B.C. had launched review after concerns about money laundering at River Rock casino in Richmond

Amazon gets 238 proposals for 2nd headquarters

Submissions were due last week. Online retailer has said tax breaks and grants would be factors

Raise a glass for the 28th annual Fraser Valley Wine Festival

Charity soirée happens Nov. 4 at Willowbrook Shopping Centre

Most Read