I seem to remember, when ICBC was established, it was to combat the rip-offs being perpetrated in the auto insurance industry for driver coverage. This was alleged to be a result of monstrous executive salaries, diversion of funds to the shareholders of the old insurance companies and no regard for the cost to the poor drivers. Well, now, history repeats itself.
I have obtained a list of the top 50 salaries in the ICBC hierarchy. These salaries range from $196,618 to $461,710 per year.
The total bill amounts to a staggering $12,888,216 per year, not including benefits, pension plans or expense accounts.
Breaking this down, the average salary for a top ICBC bureaucrat, works out to an astounding $257,764 per year.
Where, I ask, is Christy Clark's pledge to "hold the line," on public sector employees' compensation?
It's time for a reduction in both numbers and compensation. Ask your MLA how this salary situation compares with the "no money" approach faced by most of the other public sector workers?
Terrence Murphy Richmond