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22 ~ Friday, March 22, 1991 - North Shore News

AUTOMOTIVES
1990: the year in review

Ken
Hardie

INSURANCE
CORPORATION

OF BRITISH CORUMBIA
AUTOTOPIC

ON TUESDAY, Mareh 2th, the
Honorable Ivan Messmer,
Minister responsible for ICBC,
tabled the Corporation's 1990 an-
nual report in the B.C. legislature.
It’s a story of very large, signifi-
cant numbers — one which
highlights the magnitude of
ICBC’s challenge to provide the
public with protection from motor
vehicle-related losses.

The two pie charts show the
source of ICBC’s $1.74 billion in
income and how it was used.

Motorists’ premiums for
Autoplan policies and driver point
premiums amounted to $1.4
billion. A further $331.9 million
income was generated by investing
the fund committed for claims
that have occurred but have not
yet been paid.

Although every dotlar of
motorists’ premiums was used to
pay claims, this wasn't enough.
We needed to draw $87.3 million
more from investment income to
cover all claims settlement costs.

By the end of 1990, ICBC paid
out $1.06 for claims for every
dollar we paid into the fund. In
effect, we got our insurance
coverage for less than ‘‘cost."*

The $17.2 million noted on the
lower chait as ‘‘reserves’’ repre-
sents ICBC’s net income for the
year. This “profit’’ will go into a
rate stabilization fund which pro-
tects motorists in the event of a

sudden, unforeseen jump in chums
COstS,

You may recall that our annual
report for $987 announced a $27.8
million loss for the year. This
amount was made up from the
rate stabilization fund.

& &y Muiti point fuel injection engine
Mm ey Shift on the fly 4x4

Here are a few more numbers
to vote from our 1990 year: On
average, 3,324 claims were
reported to ICBC every working
dav. The 1990 total was a record
831,000 claims, one for every 2.6
autop!an policies.

ta Soft top plus locking ¥2 doors
Chrysler 7 year/tt5 km warranty!

* NET OF ALL PROGRAMS - FREIGHT & PDI. $598 DL #7496

FOR 17 HOURS ONLY!
1 BURRARD ACURA
i 4th ANNIVERSARY

SALE STARTS SATURDAY [ACURA IRTEGHA RE COUPE }
SAM THRU SUNDAY SPM |. zpecist even, Ourara Acura 5

EVERY INTEGRA AND LEGEND IS | (Sitar icon, on OM
SALE PRICED. THIS S A RARE JY °°

FOR THIS SPECIAL EVENT ONLY, | manutacturer to sell $ 14 G80
' ]

OPPORTUNITY TO PURCHASE ray
YOUR ACURA AT BELOW hz, Ts

FACTORY PRICES.

HUGE SAVINGS
PLUS NO CHARGE

COVALUE PACKAGE

CICAR ALARM

(s LEGEND LEATHER SEDAN
Dramauc sale prices on all award
vanning Legends This

CICELLULAR PHONE {Xone vast tong
[1 BCAA MEMBERSHIP [ive 7?
* ON LOCATION FINANCING ;

ALL TRADES WELCOME

* HUGE INVENTORY ON HAND
© ONE LOCATION ONLY—ENJOY
CANADA'S AWARD WINNING

ACURA DEALERSHIP

BURRARD ACUR

Some Restrctom aguty

Your choice inctuded with the
purchase of your new Acura

*

Saturday and Sunday, Ma

Ernst Fuchs

‘ BMW's were used as canvas for these famous Artists expressions
ana will be on display at Park Shore BMW irom Thursday, March
21 to Saturday, March 22.

Local Nortn & West Vancouver Secondary Art studerts will be
creating their own renditions of these pieces of art where a winner
will be selected for publication.

PARK SHORE BMW

1500 FELL AVE. NORTH VANCOUVER
985-9344

“

rch 23 & 24, Sale Time Sat. 9-6pm, Sun. 1i-Spm. Due to our

successful 6 hr. sale, the response was incredible and now we are overstocked with
clean used ears, trucks, vans. Some have balance of factory warranty which will be
‘transferred to the new owner at no cost. Others have iow kms., others have power
train warranties. So be prepared to buy. Bank financing will be available on location.
1.C.B.C. insurance will alse be on location.

-~- your trade-in is waicome, paid for or not.

EXAMPLE
DISPOSAL SALE
82 TOYOTA 4 DR.

5 Spd.

52,416" cs

EXAMPLE
DISPOSAL SALE |
j 86 FORO RANGER PU. ga 85 LE BARON GTS

$3,117° cs

sUAMMIT mazoa

1550 E. HASTINGS ST.

EXAMPLE
DISPOSAL SALE
86 MAZDA 4 DR.
Cenopy a Auto : Auto

$3,210" 4,786" 3

EXAMPLE
DISPOSAL SALE

VANCOUVER, B.C. 253-4224