Politicians on the right argue that businesses should operate with minimal government regulation. They claim that market forces, left largely on their own, will produce the greatest benefits for everyone.

But deregulation, like trickle-down economics, tends to benefit those at the top. Both ideas are popular with the wealthiest 10 percent—and considerably less appealing to the other 90 percent, who are expected to live with the consequences.

In Campbell River, those consequences are outrageous.

Residents of a condominium for people aged 55 and older, at 255 Erickson Road, have been locked out of their homes for more than two and a half years following a fire in February 2024. Disputes and delays involving nine insurance companies have prevented them from returning. Five residents have died while waiting. Meanwhile, the surviving owners continue paying $350 a month in strata fees for homes they cannot occupy.

The Insurance Council of British Columbia says it has no power to intervene. Yet nine of its eleven members represent the insurance industry; only two represent the public. This case demonstrates why effective government regulation—and regulators genuinely accountable to the public—are essential.

The Incident: A major fire severely damaged the 55+ apartment building at 255 Erickson Road in February 2024.
The Toll: 41 senior residents were displaced, and five individuals died while waiting for the rebuilding process to conclude.
Financial Burden: Each displaced resident continues to pay $350 per month in strata fees for homes they cannot occupy.
The Insurance Blockade: Rebuilding 30 damaged units involves untangling policies from nine separate insurance companies, leading to extreme claim delays.
Oversight Limits: The Insurance Council of BC stated it has no legal authority to intervene or force insurance companies to speed up settlements.
Current Timeline: Reconstruction is tentatively pushed to finish by February 2027—marking three full years since the disaster.