ORDER NUMBER
G-263-25
IN THE MATTER OF
the Utilities Commission Act, RSBC 1996, Chapter 473
and
the Insurance Corporation Act, RSBC 1996, Chapter 228, as amended
and
Insurance Corporation of British Columbia
Rate Change Exemption Order in Council 501/25
BEFORE:
B. A. Magnan, Commissioner
On November 5, 2025
ORDER
WHEREAS:
A. On October 28, 2025, the Lieutenant Governor in Council approved Order in Council (OIC) 501/25, amending Special Direction IC2 to the British Columbia Utilities Commission, B.C. Reg. 307/2004 (Special Direction IC2). OIC 501/25 extends the policy year for the Insurance Corporation of British Columbia’s (ICBC) universal compulsory automobile insurance (Basic insurance) that commenced on April 1, 2023 (PY 2023) to end on March 31, 2027;
B. OIC 501/25 requires that, by November 15, 2025, the British Columbia Utilities Commission (BCUC) must exempt ICBC from the requirement to apply for a general rate change order by December 15, 2025;
C. The BCUC’s jurisdiction with respect to the regulation of ICBC’s Basic insurance pertaining to revenue requirements and rates is set out by the Insurance Corporation Act and Special Direction IC2. The BCUC has no jurisdiction over ICBC’s Optional insurance business and does not set rates for Optional insurance;
D. On October 11, 2023, by Decision and Order G-266-23, the BCUC issued its decision on the ICBC 2023 Revenue Requirements in respect of PY 2023 rates, approving a Basic insurance rate change of zero percent on a permanent basis for all new or renewal policies with an effective date on or after April 1, 2023, among other matters; and
E. The BCUC makes the following directive as required by OIC 501/25. The BCUC has not conducted a regulatory review.
NOW THEREFORE the BCUC orders that ICBC is exempt from the requirement to apply for a general rate change order by December 15, 2025.
DATED at the City of Vancouver, in the Province of British Columbia, this 5th day of November 2025.
BY ORDER
Original signed by Bernard Magnan
B. A. Magnan
Commissioner