B6 - Wednesday, September 29, 1982 - North Shore News

ICBC financial report s

The mid-year financial
Statement of the Insurance
Corporation of British
Columbia reports that
Autoplan total income for
the first six months of 1982
was lower than anticipated,
totalling $366.6 million.

Claim costs, plus the cost
of doing business, totalled
$374.5 million resulting in an
operational loss of $7.9
million for this period. ;

The financial outlook
anticipates a basically
“break even” position for the
remaining six months. This
will mean a _ loss on
operations of about $8

' million for the full year -

only 1.1 per cent of earned
premium and investment
income.

The Corporation now has
assets totalling more than $1
billion, including invested
assets of about $856 million.

The fact that more than 50
per cent of the invested
money is in British Columbia
pleases Corporation
president Tom Holmes, “I

don't mind telling everyone
that we are proud of the fact
that more than 50 per cent of
our invested funds are right
here in British Columbia,”
said Holmes.

“This investment ‘at home’
has improved since January
1 of this year when we had
about 41 per cent committed
locally. In spite of the
declining state of the British
Columbia economy we have
been able to find quality
sources that meet our
requirements,” he added.

The mid-year financial
statement also reports
“almost universal” acclaim
for the new Claim-Rated
auto premium program
announced on June 9 and
initiated July 1.

The General insurance

section of the interim report
notes losses totalling
$172,000 and reports claims
were both more numerous
and more severe than an-
ticipated.

This is pointed out,
however, to be reflective of
the property and. casualty
z igab . te a a atx
Canada this year. Sizable
underwriting losses are being
reported and increased
industry rates for 1983 in this
sector are expected.

“Although there is un-
doubtedly a tendency to
increased claims in-fimes of
economic hardship, it is
expected that General
Insurance results for the

year as a whole, will be
favourable,” predicts the
report.

auto

Epidemic of drunks

SASKATOON, Sask. (UPC)
— The Canadian Medical
Association wants a tough
new set of laws to cope with
what an official called an
“epidemic” of deaths and
injuries attributed to drunk
driving.

Delegates to the CMA
convention Monday called
for stiffer fines and longer
prison terms and approved a
resolution urging the use of
blood tests in place of
breathalizer tests to
determine the alcohol level
in suspected offenders.

“This resolution, if made
law, may be coupled with a
strengthening in the fine or
penalty for the criminal code
offense,” said Dr. Gary
Stewart of Kelowna, B.C.,
who argued a blood test was
more accurate than a

breathalizer test.

“If you put them both
together, studies have shown
that in fact you decrease the
number of alcohol-related
accidents. It’s becoming
quite apparent that it is an
epidemic.”

Stewart admitted a driver
tested without his permission
culd mount a legal challenge
under human _ rights
legislation. Currently, a
doctor, technician or nurse
who performs a blood test
for other than medical
reasons can be charged with
assault.

But, he said, drivers could
be asked to add a signature
to their drivers’ licenses
which would permit the
tests.

Earlier Monday, the CMA
announced a $250,000, two-

year study into the impact of
government cutbacks on
health care services.

Government restraint has
“limited what care medical
facilities can provide to their
patients,” said Dr. William
Vail, chairman of the CMA
board of directors. “That
adds up to longer hospital
waiting lists, shortages of
specialists and limitations on
beds for elective surgery.”

CMA president Dr. Leo
Richard told reporters “the
system needs $2.5 billion
more than it now gets
through variaus sources of
funding” but said it was
highly unlikely governments
would increase their $25
billion in funding during

current spending restraints.

nen

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