Rate pressures: Continued increase in crashes, claims and costs
More crashes, more claims and higher costs are putting significant external pressure on ICBC’s insurance rates. These pressures show no sign of easing but we are committed to working alongside government to do what we can to mitigate them.
The following graphs provide the numbers behind the trends impacting insurance rates.
More crashes
More injury and vehicle damage claims
Increase in injury claims costs
Increase in vehicle damage claims costs
Injury claim settlement trends