ICBC lost a record $500 million last year, as vehicle damage, injury and legal costs soared. (Black Press files)

Letter: The boondoggle of the year

Kelowna letter writer says ICBC is a mess

To the editor:

Apparently ICBC is raising rates 6.3 per cent to ward off insolvency by next year. ICBC has an investment portfolio of around $15,000,000,000 with an annual return of close to $1,000,000,000 per annum. This is the boondoggle of the year and a harbinger of things to come via the NDP.

David Hamilton, Kelowna