A roadside reminder

Yesterday, the Insurance Corp. of British Columbia announced a "net income of $256 million for the first half of 2007, which compares to $110 million for the same period in 2006." But, as reported by The Province's Andy Ivens and Matthew Little, "our insurance premiums won't be falling anytime soon because, ICBC says, the cost of crashes is escalating even though the number is declining." So we thought now might be an appropriate time to remind our readers that, according to the insurance corporation's statements and schedules of
financial information
, president and chief executive officer Paul Taylor's renumeration for 2006 was $421,528 - which includes his taxable benefits and 15 months of performance pay.

2 Comments

Reminds me of an old song: "I'll get by ... as long as I ... have youuuuuuuuuuu ... "

That "youuu" in this case would be "us" the taxpayers, of course. Of course.

Well, somebody who can do that good a job seems to me to be worth the money. In a private sector insurance firm doing that well, Taylor would be making a lot more. Rates may not go down, but just holding them steady is a good deal. I moved to Ontario, and now pay more for worse coverage here under the privatized system (and only get to near par because I have home and auto insurance through the same company)

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