Report: Current ICBC model not sustainable; 24 percent of costs go to legal fees

The high cost of operating ICBC is due in part to an increase in collisions in the province in recent years. The number of crashes has jumped by 23 percent since 2013. Chart courtesy of ICBC.

By CRM Staff Victoria, British Columbia — July 26, 2017 — The rates currently charged by the Insurance Corporation of British Columbia (ICBC) for basic auto insurance are not sufficient to cover the cost of automotive and personal injury claims, according to a new report by Ernst & Young. “Over the past several years, the […]