November Provincial News Releases
ICBC special 1-800 number for storm related claims — November 17
Zero Crash Month winners announced — November 16
ICBC reports nine-month net income of $175 million — November 2
ICBC special 1-800 number for storm related claims — November 17
ICBC has set up a special 1-800 number for customers submitting vehicle claims resulting from the recent storm.
Customers are encouraged to call 1-866-566-7199 if their vehicle has been damaged as the result of wind or water and they have the proper ICBC insurance coverage in place.
Vehicle loss or damage caused by windstorms or rising water is covered under both Specified Perils and Comprehensive and is part of optional insurance coverage.
As with ICBC's Dial-A-Claim center, the toll free number will be open 24 hours a day and will be in place while claims from the storm continue to come in.
For more information contact:
Doug Henderson
604-982-1332
Kate Best
604-982-2480
Zero Crash Month winners announced — November 16
Everybody wins when we reduce crashes
ICBC is pleased to announce this year's Zero Crash Month community winners are Delta, Powell River, Hope, the Village of Queen Charlotte, Silverton and New Aiyansh.
ICBC, the provincial government and local police designated October as Zero Crash Month to raise awareness of the impact crashes have on people, families and communities, and as a challenge to make a difference.
"Car crashes are a major problem affecting all British Columbians, and this government is committed to making improvements in road safety," said the Honourable John Les, Solicitor General and Minister of Public Safety. "I am proud of the communities and individuals who participated in Zero Crash Month, because we are all winners when we reduce crashes," said Les.
In total, over 54,000 British Columbians made a personal pledge to road safety in October, 172 communities signed up for the Zero Crash Month community challenge and 94 businesses joined the corporate challenge.
The community winners in each category are:
| Community | Population | Road safety grant |
Percentage reduction |
| Delta | over 40,000 | $35,000 | 28% |
| Powell River | 10,001 to 40,000 | $25,000 | 31% |
| Hope | 5,001 to 10,000 | $18,000 | 51% |
| The Village of Queen Charlotte | 1,501 to 5,000 | $10,000 | 49% |
| New Aiyansh (Tie) | 1,500 or less | $ 2,500 | 100% |
| Silverton (Tie) | 1,500 or less | $ 2,500 | 100% |
The individual prize winners are:
- Ian Black, from Powell River, won this year's grand prize of a brand new, fully loaded all-wheel drive Pontiac TorrentTM with a 5-Star Crash Test Rating, valued at approximately $40,000, courtesy of the Pontiac Dealers of BC.
- Willi Schmidt, from Terrace, won a seven-day trip for two to Cancun, Mexico, including accommodation at the all-inclusive Club Med and air travel, valued at approximately $10,000, courtesy of Renshaw's Travel and Cruise Concepts and Club Med.
- While Diana Van der Woerd, from Houston; Ellie Jones, from Nanaimo; Kam Ming Tun, from Vancouver; and Signe Miller, from Creston, each won a set of brand new tires up to $1,000 in value, courtesy of GM Goodwrench Service.
The corporate challenge winners are:
- The Township of Langley, BC Hydro - G.M. Shrum Generating Station (Peace River), the City of Vernon, and Unisource Canada Inc. (New Westminster), each won a catered coffee break for their employees.
At the outset of the campaign, ICBC predicted that 22,000 crashes would take place this October, based on a five year average. Early results show approximately a 10 per cent decrease in crashes, however as motorists continue to report claims to ICBC, the number of crashes reported for the month of October will increase.
"While education programs such as Zero Crash Month can have an effect in the long term, they are only one component of our overall strategy to improve driver behaviour," said Paul Taylor, ICBC president and CEO. "Rising claims costs are still a major concern for ICBC. We will continue to work with police and other stakeholders to develop strategies targeting aggressive drivers. Our goal remains to reduce crashes, injuries, and deaths, which help to keep rates low and stable" said Taylor.
For more details on the Zero Crash Month results, including community crash results and the number of pledges recorded in each community visit www.icbc.com.
For more information contact:
Eric Green (Fraser Valley)
604-240-8108
Kim Thé (Lower Mainland)
604-833-3586
Nina Moroso (Vancouver Island)
250-888-9278
Ryan Detwiller (Southern Interior)
250-979-4612
Alyson Gourley-Cramer(North Central)
250-961-9299
ICBC reports nine-month net income of $175 million — November 2
Growth in the cost of injury claims a continuing concern
ICBC has reported net income of $175 million for the first nine months of 2006; comparable to $195 million reported for the same period last year.
Overall, ICBC is in a good financial position. Earned premium revenue is growing, investment income remains strong, and operating costs continue to be low. However, growth in the cost of injury claims is an ongoing concern.
"More than 80 per cent of the total cost of all injury claims is covered by basic insurance," said Paul Taylor, ICBC's president and CEO. "That's where the cost pressures are and this will affect premiums for basic coverage."
"So far this year, ICBC has invested $29 million in various road safety and other loss management programs to help keep insurance rates low and stable," said Taylor , "but ICBC can't do it alone. The biggest single thing that customers can do to keep their premiums low is to do their part in preventing crashes. Claims costs are the biggest driver of insurance premiums.
Insurance premiums earned for the nine months ended September 30, 2006 increased to $2.43 billion, from $2.34 billion for the same period in 2005. This reflects the 6.5 per cent increase in rates for basic insurance that came into effect earlier this year, as well as the $100 million reduction in rates for optional coverage that was implemented in 2005. In addition, the number of insured vehicles on the road has increased by over 3 per cent.
Net claims costs for the first nine months of 2006 were $2.03 billion, which represents a 7.4 per cent increase over the same period in 2005. This includes a $93 million increase to reserve for prior years' claims.
One area of good news is the decrease in claims costs related to auto theft; due to the success of the Bait Car program and other ICBC-funded initiatives. Claims costs for auto theft in the first nine months of 2006 were $43 million, down from $53 million for the same period in 2005 and $58 million in 2004.
ICBC's expense ratio in 2005 compares very favourably with other property and casualty insurance companies. Low operating costs are another way that ICBC helps keep insurance rates low and stable.
ICBC's investment income continues to be strong. Income produced by ICBC's investments will mean the average premium this year is more than $175 lower than it would be otherwise.
For more information contact:
Doug McClelland
Tel: 604-982-2476
