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

Kelowna and Lake Country popular stories from the week

The Capital News and Calendar highlight popular stories every Saturday afternoon

Cook kicks off byelection campaign in West Kelowna

The campaign office will be open seven days a week in the Westbank Shopping Centre

Kelowna students complete D.A.R.E. program

Students at Heritage Christian School received their certificates Friday

Dual-credit film program approved for Central Okanagan students

The Central Okanagan Public Schools is developing a program with the Vancouver Film School

Snow warning in effect for the Coquihalla

A snowfall warning is in effect from Hope to Merritt as slush and snow is expected on highways this weekend

Disappointing turnout for Kelowna women’s march

The Kelowna Women’s March on Washington was held Saturday, Jan. 20

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

B.C. woman who forged husband’s will gets house arrest

Princeton Judge says Odelle Simmons did not benefit from her crime

Women’s movement has come a long way since march on Washington: Activists

Vancouver one of several cities hosting event on anniversary of historic Women’s March on Washington

Liberals’ 2-year infrastructure plan set to take 5: documents

Government says 793 projects totalling $1.8 billion in federal funds have been granted extensions

Workers shouldn’t be used as ‘pawns’ in minimum wage fight: Wynne

Comments from Kathleen Wynne after demonstrators rallied outside Tim Hortons locations across Canada

John ‘Chick’ Webster, believed to be oldest living former NHL player, dies

Webster died Thursday at his home in Mattawa, Ont., where he had resided since 1969

World’s fastest log car made in B.C. sells for $350,000 US

Cedar Rocket auctioned off three times at Barrett-Jackson Co., netting $350,000 US for veterans

Most Read