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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