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Indo-Canadian Member Appointed ICBC Board Interim Chair After Chairman Bolts

VANCOUVER – An Indo-Canadian involved in ethnicadvertising business who hadbeen a member of the ICBCboard for many years has beenappointed interim chairmanafter Paul Taylor, former presidentof the InsuranceCorporation of B.C., suddenlyresigned as chair after a year anda half in that position.ICBC issued a brief statementsaying Jatinder Rai, a member ofthe board of directors since2008, has been appointed interimchair. A spokesman declinedfurther comment on the reasonfor Taylor’s departure, reportedSurrey Leader.”Mr. Taylor was appointed chairin July 2012 and his leadershiphas helped guide the corporationthrough challenging times,including the downsizing andrestructuring of the company inlate 2012,” the ICBC statementsaid. ICBC imposed a 4.9 percent rate increase for basic vehicleinsurance in November, citingincreasing injury claims andhigher payouts. That followedan 11 per cent increase in basicinsurance rates in 2012.ICBC cut 260 positions in 2012after an audit of its operationsshowed its management rankshad increased 41 per centbetween 2007 and 2011.Taylor resigned as president ofICBC in May of 2008.

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