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6.3 per cent rate increase eyed for ICBC

Story by Sharon Vanhouwe,

VICTORIA, B.C- Unless there’s a good reason why not, it looks like we are headed toward a 6.3 per cent rate increase with ICBC.

The British Columbia Utilities Commission has approved ICBC’s application on an interim basis to increase basic insurance rates while the Commission reviews the application.

The new rate would be effective as of April 1st of this year.

At the end of the regulatory process, the BCUC will reach a final decision on ICBC’s basic rate application and then determine how any difference between the approved interim rate and permanent rate will be refunded or collected at the time of its final decision.

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