B.C.’s Attorney General says drivers will find out this week how much their insurance rates will rise….again.  

David Eby says ICBC will have lost about $3-billion before April’s overhaul begins to be phased in, and even then insurance rates will continue to rise.

“I understand that ICBC will be releasing rates shortly, on Thursday actually,” Eby said, on the Jim Harrison Show this morning. “Those rates will go to the BC Utilities Commission with an explanation of how ICBC got to those numbers. You should have them shortly.”

Eby was asked how much the proposed insurance rate hikes will be.

“ICBC bases the rate projections on what their actuaries look at in terms of the anticipated costs as well as the impacts of the reforms we’re planning,” he added. “Our goal ultimately is to get rates at or close the rate of inflation, we’re not there yet.”

In the New Year, ICBC will revamp its insurance model moving from insuring vehicles to insuring drivers.