Attention all ICBC customers who paid too much insurance for more than six years: your refunds are NOT in the mail, yet.
The cheques were supposed to be delivered this month, but staff with the Crown Corporation say they’re still waiting for the completion of two external reviews which were due in mid-June.
In April, when an audit was ordered by Transportation Minister Todd Stone, ICBC officials promised the situation would be resolved within three months.
The estimated cost of the so-called accounting ‘blunder’ was $39 million and 24 million individual transactions needed to be traced.
Approximately 40, 000 customers per year paid too much for optional insurance.
Another 58-thousand paid too little, but they’re not expected to make up that difference.