ICBC Billings Blunder
You probably saw the headlines about ICBC’s latest billing blunder.
According to The Province the accounting mix-up, in which some customers were overcharged for their optional auto insurance, is going to cost ICBC more than $110million.
That’s a lot of dough.
And a financial foul-up of epic proportions.
“I was very, very angry when I learned there was a problem here,” B.C.’s transportation minister Todd Stone was quoted as saying.
Well, if you think you’re angry Minister Stone, imagine how B.C’s motorists feel.
Millions of drivers across the province rely on ICBC. They depend on ICBC to get things right. But if they can’t do something as simple as billing people properly, what does this say about the rest of their operations.
Then there’s the thorny issue of money.
Minister Stone has ordered ICBC to repay the $39million ICBC overcharged purchasers of auto insurance. And ICBC will also have to swallow the $71million its undercharged motorists over the past six years.
That may seem like good news for those drivers who’ll be getting a cheque in the mail.
But you can bet that its B.C.’s motorists who’ll end up paying for ICBC’s mistakes in the long run.
Stay tuned for further updates as this story continues to unfold.
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