Orders

 

ORDER NUMBER

G-107-24

 

IN THE MATTER OF

the Utilities Commission Act, RSBC 1996, Chapter 473

 

and

 

Insurance Corporation of British Columbia

2024 Financial Allocation Methodology

 

BEFORE:

B. A. Magnan, Commissioner

 

on April 9, 2024

 

ORDER

WHEREAS:

 

A.      On January 31, 2024, the Insurance Corporation of British Columbia (ICBC) filed an application for approval with the British Columbia Utilities Commission (BCUC) to update its existing Financial Allocation Methodology (FAM) for allocating revenues and costs among its Basic insurance, Optional insurance and Noninsurance business segments (Application);

B.      On March 1, 2024, ICBC filed an addendum to the Application (Addendum) relating to the impact of ICBC’s proposed FAM changes on the allocation of the Unallocated Loss Adjustment Expense;

C.      By Orders G-46-24 and G-51-24 dated February 22, 2024 and February 27, 2024, respectively, the BCUC established and subsequently amended a regulatory timetable for the review of the Application including the Addendum, which included public notice, intervener registration, one round of BCUC and intervener information requests (IRs) to ICBC, a letters of comment process, and final and reply arguments;

D.      By letter dated April 8, 2024, ICBC requested an extension of one week to the remaining filing deadlines established by Order G-51-24, including the deadlines for its responses to IR No.1, the letters of comment, and final and reply arguments, due to unexpected changes in internal and external resources that are assigned to support the Application; and

E.       The BCUC has considered ICBC’s extension request and determines that an amended regulatory timetable is warranted.

 

NOW THEREFORE the BCUC establishes the amended the regulatory timetable as set out in Appendix A to this order.

 

 

DATED at the City of Vancouver, in the Province of British Columbia, this        9^th         day of April 2024.

 

BY ORDER

 

Original signed by:

 

B.A. Magnan

Commissioner

 

 

Attachment

Insurance Corporation of British Columbia

2024 Financial Allocation Methodology