News

ICBC board chair steps down

Former ICBC president and board chair Paul Taylor - Black Press files
Former ICBC president and board chair Paul Taylor
— image credit: Black Press files

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.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Arrests of pipeline protesters in Burnaby signal start of long battle
 
Q&A: Ex-transportation ministers criticize referendum, discuss TransLink
 
Man sentenced for three bank robberies
House fire draws big response
 
Rare pinto deer shot and killed
 
Stolen $3,000 ring was graduation gift
CFL legend Calvillo guest speaker at Spartans fundraiser
 
Seniors flu clinics may be reinstated
 
Arrests continue daily on Burnaby Mountain

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 18 edition online now. Browse the archives.