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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