VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- The British Columbia Utilities Commission (BCUC) has established a public review process for the Insurance Corporation of British Columbia’s (ICBC) 2018 Basic Insurance Rate Design Application.
On August 9, 2018, the provincial government issued a number of directives to ICBC and the BCUC regarding ICBC’s rate design and the timing of their next rate application. In accordance with government direction, on August 15, 2018, ICBC filed an application with the BCUC seeking approval of rate design amendments. Under Order in Council No. 459, the BCUC will have 45 days from the date of the application to set ICBC’s rate design in accordance with government direction.
Background
The Insurance Corporation Act sets out the role of the BCUC’s regulation of ICBC’s Basic insurance. In particular, ICBC must make Basic insurance available in a manner that the BCUC considers is adequate, efficient, just and reasonable. The BCUC must also follow government directives when regulating and fixing rates using the factors, criteria and guidelines as provided.
Review process
By Order G-152-18, the BCUC has established a public proceeding that includes an opportunity for public comment, a streamlined review process (SRP) and oral argument. The SRP is intended to expedite the flow of information between the ICBC, registered interveners and the BCUC by incorporating the benefits of a workshop, information requests and an oral hearing into one efficient process.
There are a number of ways to participate in the review process, outlined below.
- Submit a letter of comment by Thursday, September 6, 2018: Members of the public can submit a letter of comment online. Letters of comment are intended to provide for any member of the public to contribute views, opinions, and impact or potential impact, with respect to a matter before the BCUC, to the public record.
- Register as an interested party by Thursday, September 6, 2018: Interested parties can register online to receive updates on the proceeding.
- Request intervener status by Friday, August 24, 2018: Persons who are directly or sufficiently affected by the BCUC’s decision or have relevant information or expertise, and who wish to actively participate in the proceeding, can request intervener status by submitting a completed Request to Intervene Form online.
- Attend the SRP on Tuesday, September 4, 2018: The SRP will be held on Tuesday, September 4, 2018, commencing at 8:30 a.m. at the BCUC Hearing Room on the 12th Floor, 1125 Howe Street, Vancouver, BC. Interveners must pre-register to participate, while members of the public are welcome to attend on a first-come first-serve basis to observe. Details regarding the BCUC’s SRP Policy, Guidelines and Procedures can be found on the BCUC website here.
For more information on what is in scope for the BCUC’s review of the application, please see the Panel letter here and government directives on the matter, Order in Council No. 458 and Order in Council No. 459.
About the BCUC
The BCUC is a regulatory agency responsible for oversight of energy utilities and compulsory auto insurance in British Columbia. It is the BCUC’s role to balance the interests of customers with the interests of the businesses it regulates. The BCUC carries out fair and transparent reviews of matters within its jurisdiction and considers public input where public interest is impacted.
CONTACT INFORMATION:
Katharine Carlsen
Manager, Gas Marketing Program and Media Relations
Phone: 604.660.4715
Email: Katharine.Carlsen@bcuc.com