ICBC working on errors on premium payments

NEWS — The bad news is that 40,000 optional insurance customers overpaid on their ICBC premiums.
The good news, if you can call it that, is that 58,000 optional insurance customers underpaid. And the numbers aren’t as high as first reported.
The average overpayment was $21; the average underpayment was $34. Those who overpaid will get a refund, those who underpaid won’t have to give it back.
“We are going to ensure all of four customers who overpaid on their optional insurance over the last six years receive full refunds with interest,” said ICBC president and CEO Mark Blucher as ICBC works on correcting errors revealed a week and half ago.
“The modernization of our systems will ensure this doesn’t happen in the future and we sincerely apologize for any convenience this has caused our customers.”
He said ICBC is working on the principles outlined by Transportation Minister Todd Stone including premiums not going up as a result of the error, overpayments being repaid with interest, and no retroactive billing of customers.
“The board and management have been working to identify and resolve this complex issue as a priority,” said Jatinder Rai, chair of the ICBC board.
ICBC said updates to vehicle descriptions will be made in the coming months. It said customers who have paid too much or too little will receive notices in the mail.