If you’re hoping to get some form of rebate from ICBC during the pandemic, it’s looking like you’re out of luck.

BC Attorney General, David Eby said while on the NL Morning News, there’s just too much financial uncertainty for a rebate to happen at the moment. “ICBC’s finances are still quite fragile.”

“It could be a very positive year for ICBC because accidents are way down. It could also be a challenging year because the number of people that have cancelled their insurance and that revenue that was anticipated to come in from various premiums that people are paying is not coming in.”

Eby points out there’s just too much financial uncertainty for a rebate to happen at the moment. “ICBC has significant financial holdings, investments and the markets are obviously, significantly influx so what we’ve decided is that there won’t be any rebates until we have a look at finances at fiscal year end and know where were are when things are hopefully a little bit more stable.”

With incoming revenue and volatile markets making rebates out of the question right now, Eby did have some advice for drivers looking to save a few dollars. “If people have changed their driving habits, if they’re not driving for work as often, if they’re not commuting anymore, if they’re only using their vehicle for pleasure or if they’ve essentially put it in storage because they’re not driving it at all then they should call their broker and change their insurance to reflect their current use and that will actually provide significantly more savings for them than any rebate could.”

One thing that was well received according to Eby was ICBC waving cancellation fees with tens of thousands of drivers changing from commercial to personal insurance while others took storage insurance and just parked their vehicle.