If you haven’t gotten your ICBC rebate cheque, you’re not alone. But don’t worry — ICBC says it’s in the mail.
In a statement to Black Press Media, the insurance corporation said all 2.8 million rebate cheques have been sent to Canada Post for delivery. ICBC has already issued 25,000 rebates to customers who signed up for direct deposit and issued all credit card rebates to 573,000 eligible customers.
No money is coming in the form of a text or email. If you receive a text claiming to be your ICBC rebate, it’s a scam.
The cheques were announced in late March as a way to combat rising gas prices. Most drivers will receive $110 while commercial drivers can receive up to $165.
ICBC says the rebate cost a total of $396 million and was only possible because of its “strong financial position”. The insurance corporation boasted $1.9 billion in net revenues in the past fiscal year. But don’t expect any more of that money to be released. ICBC says there are no future rebates planned.
“We will be using our strong financial position to build back our previously depleted capital reserves to ensure British Columbians have a financially stable auto insurance system – and insurance rates – for years to come.”
ICBC will be releasing their results for the 2021-22 fiscal year later this month.