How is ICBC dealing with this year’s $1.3 billion loss? It’s just handed out hefty bonuses to the very executives who are at the helm and responsible for ICBC’s gross mismanagement. Its chief investment officer was rewarded a whopping $50,000. Former chief financial officer, only there part of the year, received almost $37,000. Total compensation for its 8 executives was just short of $3 million. Instead of cleaning house, ICBC has once again blamed personal injury lawyers for its own “financial dumpster fire.” To add insult to painful injury, as of April, ICBC is imposing a severe $5500 cap on pain and suffering for seriously injured claimants, including those with brain damage. Is this for real? You bet it is.
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