Liberals after a recent announcement on car insurance rates, saying the government should have moved faster to implement the change. Transportation Minister Todd Stone announced Tuesday that ICBC will soon stop insuring luxury cars that sell for more than $150,000 in an effort to quell rising insurance rates. The province argues that accidents involving luxury vehicle insurance claims are expensive and place an unfair burden on the vast majority of rate payers. Chuck Byrne, president of the Insurance Brokers Association of British Columbia, says the ICBC rates align with hikes across Canada. With files from CBC's The Early Edition and BC AlmanacTo listen to the full interview, click on the audio labelled: ICBC dropping luxury car insurance 'four years too late', NDP MLA says

Source: CBC News November 25, 2016 01:41 UTC