Ever wonder why a government monopoly like ICBC feels the need to raise your basic auto insurance rates? Here’s another example of how they are wasting your hard-earned money:

From the CBC:

An executive hired by the Insurance Corporation of B.C. to help cut costs received more than $188,000 for expenses claimed in 2010 — in addition to his $315,000 annual salary, CBC News has learned.

Art Kirkner, a U.S citizen, was hired as one of ICBC’s 15 vice-presidents in 2008, with responsibility for ICBC’s claims centres and other field services.

In the process, Kirkner was involved in laying off several managers in an attempt to cut costs.

In 2010, Kirkner’s salary and expenses $188,681 totalled $504,505, the second highest salary in the public corporation after CEO Jon Schubert, who pulled in $504,771, according to an ICBC financial statement.

ICBC declined interview requests about Kirkner, but a spokesman said much of the 2010 expense claim was for temporary accommodation and for relocation to Vancouver, although Kirkner had joined ICBC two years earlier.

Kirkner left ICBC last summer.

So the guy in charge of cutting costs rang up $188,000 in expenses, on top of a $315,000 annual salary. And that didn’t ring any alarm bells for the powers-that-be at ICBC? No wonder we have the second-highest insurance rates in the country!

It’s absolutely sickening, and needs to stop now.