Released financial disclosure documents have revealed that ICBC’s top executives took home top dollar in 2017-2018.
With salaries ranging between $274,000 and $415,000, ICBC's execs also received bonuses as large at $50,000, despite the company's current finances, described by B.C.’s Attorney General David Eby as a “financial dumpster fire."
Despite the large bonuses, three of the insurer's top execs have left the company in the calendar year.
Former president and chief executive officer Mark Blucher, who carried a salary of $320,260, left ICBC last year for Central 1 Credit Union.
Geri Prior, former chief financial officer earning $415,685, has recently retired and former vice-president Barbara Meens Thistle, with a salary of $274,021, left to join the University of British Columbia.
ICBC reported a whopping $1.3-billion in losses during the first nine months of 2017.
Attorney General Eby has blamed distracted driving, alleged overbilling by auto body shops and financial mismanagement by the Liberals for inflated losses.
However, Eby has announced that ICBC executive total pay packet will be reduced.
