In a news release, the provincial automobile insurance corporation did not offer any reason for the sudden departure, but sources have told CBC News that Taylor stepped down for personal reasons.
Taylor was appointed chair of the Insurance Corporation of British Columbia's board of directors in July, 2012, and his term was to end January, 2017.
He's credited with navigating the corporation through downsizing and restructuring, but back in 2008, Taylor resigned as CEO of ICBC, following a scandal at the Crown corporation's Burnaby facility.
ICBC closed the Burnaby facility when it learned that 98 repaired cars and trucks were sold without full disclosure of their accident history. At least 22 of the vehicles were bought by ICBC managers at rigged auctions, according to an internal investigation.
During his career Taylor has held several high profile posts, including B.C. deputy minister of finance, CEO of the B.C. power company Naikun Wind Energy Group Inc, and chief of staff for former premier Gordon Campbell, which earned him a $114,000 severance package from Premier Christy Clark in 2011 after just half a year on the job.
In his place longtime ICBC board member and advertising executive Jatinder Rai has been appointed interim chair of ICBC.
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