ICBC heading for another billion-dollar loss; CEO cites injury claims, legal battles


By Katie DeRosa / Times Colonist
B.C.’s motor-vehicle insurance provider continues to bleed money, with new numbers showing Insurance Corp. of B.C. posted a net loss of $860 million in the first nine months of its fiscal year, putting it on track to lose $1.18 billion for the full year. This is driven largely by prolonged legal battles with people injured in crashes who are demanding higher settlements, says ICBC CEO Nicholas Jimenez.…

Source:: ICBC heading for another billion-dollar loss; CEO cites injury claims, legal battles


February 10, 2019

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