(ICBC) — or face the risk of large penalties if the borrower gets in a crash. ICBC, the province's public insurer, is proposing an annual $50 "unlisted driver protection fee," one of several changes it has suggested to overhaul the way premiums are calculated. The premium would be calculated on the driving history of the primary driver, with 25 per cent of the weight given to the highest risk driver on that list. "It'll ensure that the level of risk that you do represent is accurately represented in the premiums that you pay." "If you have many years of driving experience crash free, you can get up to 52 per cent off your basic insurance."

Source: CBC News September 29, 2018 04:30 UTC