Thursday, May 9, 2024



 Mayor of Party City Ken Sim lays on ground for the cameras.

July 7th, 2024 TOUR DE CONCORD

 Enjoy the free Vancouver Community Bike Festival and Criterium Cycling Races. Watch competitive pro cyclists race laps just off Vancouver’s False Creek. Register today to enjoy free family activities, bike tune-ups, kids bike obstacle courses, a chance to win over $5,000 in draw prizes, and more! Also enjoy a variety of food trucks, bike vendors, and beer garden with premium viewing of the racetrack. Fun for all ages!

BIKE FESTIVAL Starting at 10:00 am, enjoy the beer garden, food trucks, various bike vendors, free bike safety checks and tune-ups, see a variety of the latest top brand e-bikes, road bikes, mountain bikes and apparel, Kids' Zone with bike & helmet decorating, kids bike obstacle courses with games for all ages, chances to win draw prizes and more. The Bike Festival will be fun for all ages!

Wednesday, May 8, 2024



ICBC announces $110 rebate to drivers, basic rates remain unchanged


What to know about ICBC basic rates update and customer rebate

Due to positive performance and strong fiscal management, ICBC’s preliminary net income for the fiscal year 2023-24 is an estimated $1.5 billion. The total amount of the rebate is roughly $398 million, equivalent to $110 per eligible insurance policy. The cost to process and distribute the rebate is $3.9 million. Following legislative reforms, the net income balance will stay with ICBC, helping to stabilize rates for drivers over the long term. The final, audited net income figure, along with a full financial summary of the fiscal year, will be released this summer.

On average, since government enacted major ICBC reforms, customers with full ICBC basic and optional coverage have received $530 in four separate rebates and saved $490 per year on their insurance with the implementation of the Enhanced Care model.

The list of rebates with the average amounts is as follows:

  • April 2021 – first COVID-19 rebate: $190
  • July 2021 – second COVID-19 rebate: $120
  • 2022 – relief rebate: $110 (flat)
  • 2024 – ICBC rebate: $110 (flat)

ICBC basic rate:

In May 2021, ICBC transitioned from a legal-based insurance system to its care-based model called Enhanced Care. This lower-cost model not only provides better care and recovery benefits to people injured in crashes, but it has also lowered insurance rates and allowed ICBC to build back its capital reserves. In the first year under the new model, the basic insurance rate decreased by 15% and has been flat since then with no increases.

An insurer’s capital reserves are measured by a ratio called the minimum capital test (MCT). ICBC’s basic insurance MCT reached a low of -18% in fiscal year 2019-20. Since then, with government and ICBC actions such as the implementation of Enhanced Care, ICBC’s estimate for its basic MCT is above 160% and projected to be strong going forward.

ICBC rebate:

ICBC has roughly $18 billion in investments, which are managed by the British Columbia Investment Management Corporation (BCI). When ICBC’s investment portfolio does well, it has investment income to help offset claims costs, and higher investment returns in the future help reduce the need for rate increases.

At the beginning of fiscal 2024-25, much of the forecasting community was predicting a challenging year for equity markets. ICBC’s planned investment income for the fiscal year was $134 million. However, the global equity market had a remarkable bull run between November 2023 and March 2024, which drove ICBC’s unaudited net investment income up substantially higher than anticipated to $1.2 billion.

The improvement in investment income along with favourable claims costs compared to its third quarter estimates are the key drivers behind ICBC’s preliminary net income of approximately $1.5 billion. Four hundred million dollars will be rebated to eligible customers through a one-time rebate and the remainder will go toward building capital reserves, ensuring ICBC remains on solid financial ground.

Rebate eligibility:

Roughly 3.6 million customer policies are eligible for the rebate. All personal and commercial customers who had an active eligible basic insurance policy in February 2024 will receive the rebate. Keeping in mind that one driver can hold multiple polices, ICBC estimates nearly 2.7 million drivers will receive the rebate. Some vehicles with an average basic premium of less than $250 over a two-year period will not be eligible for the rebate. These include golf carts, off-road vehicles, utility vehicles, limited-speed motorcycles, trailers and vehicles insured in a collector rate class, among others. Temporary operating permits and storage policies are also not eligible. More information about the rebate, including eligibility and timelines, is available here:



Letter from Clint Mahlman COO of London Drugs to customers after the business was shut down due to a cyber security incident. Assuring customers that no data was taken.

I want to begin by expressing my sincere apologies for the inconvenience and any concerns that may have arisen from the cybersecurity incident against London Drugs that occurred on April 28, 2024.

Additionally, I want to extend my heartfelt gratitude for the incredible outpouring of support for our staff, our customers and community, both directly and indirectly via social media. Your expressions of positivity have been a tremendous source of motivation for our team during what has been one of the most challenging times in our company’s history. Your support has helped us immensely as we focus on restoring our operations in a methodical, safe, and secure manner.

At London Drugs, we take our responsibility to our customers and employees extremely seriously. We have security measures in place and engage expert outside specialists to ensure the security of our systems while maintaining accessibility for our customers. Our practices are regularly reviewed by independent auditors to uphold our commitment to privacy and security. Although those measures were implemented here, given the rapidly evolving landscape of cybersecurity threats, no organization can be 100% safe from advanced cybersecurity incidents orchestrated by sophisticated third parties.

In preparation for such events, we have robust contingency plans in place. These plans include an immediate shutdown of almost all systems to facilitate containment, remediation, and assessment of real or suspected cybersecurity incidents. As soon as we became aware of suspicious activity in our environment, we immediately engaged third party cybersecurity specialists from across North America to assist with containment, mitigation, and to conduct a forensic investigation. This resulted in an immediate company-wide shut down of operations. Following our established protocols, our process involves ensuring we can reopen in a methodical, safe, and secure way. This includes re-connecting with third-party systems, each of which have their own policies and protocols that take time to work through in a priority sequence. Our investigation is ongoing.

As of today’s date, we have found no evidence that our customer databases, including health data or LDExtras data, were compromised. However, should we discover any evidence that customer information was impacted, we will inform our customers and privacy commissioners in accordance with privacy laws. At the outset, we proactively alerted the privacy commissions in the provinces we operate in and have reported this incident to law enforcement.

London Drugs’ culture is known for being a standout in the retail industry. Our employees are the backbone of our organization, and we are proud to have some of the longest serving staff members of any retailer in Canada. The amazing teamwork, dedication, and creativity they have shown during this challenging period has been inspiring. We even had experienced retired employees show up to lend a hand given their considerable experience and historical knowledge. We can assure you that all our staff members were paid on their normal pay cycles, and even those not directly involved in the recovery efforts were employed with other tasks to provide job security during this difficult time. We deeply value the relationships our staff have with our customers, and it is imperative to us that they feel supported throughout this ordeal.

London Drugs is a private, multi-generational family-owned company dedicated to serving the communities and people of Western Canada. While this has been a challenging time for London Drugs, your support and understanding have made all the difference as we respond to this incident. We look forward to welcoming you back and serving you as our stores reopen and company systems are slowly and methodically restored in a safe and secure way.