The Insurance Corp. of BC is warning motorists to expect another rate increase in 2007 Auto News AutoNews24h.com

The Insurance Corp. of BC is warning motorists to expect another rate increase in 2007

Auto News : Insurance : The Insurance Corp. of BC is warning motorists to expect another rate increase in 2007

The Insurance Corp. of B.C. is warning motorists to expect another rate increase in 2007.

Spokesman Doug McLelland said Thursday in the first nine months of this year ICBC reported a net income of $175 million but the cost of injury claims jumped 7.4 per cent over 2005.

He said an application will be made to the B.C. Utilities Commission in the next five months outlining how much rates should rise.

ICBC predicted earlier this year a five per cent rate hike might be needed.

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