Unpaid ICBC claims could lead to increase in rates, says B.C. NDP
Crown corporation says it's hiring new staff to deal with increase in claims
ICBC documents released by the B.C. NDP show its unpaid insurance claims have nearly doubled over the last five years, which the political party says could lead to a rate increase for B.C. residents.
Results from the Crown corporation's first fiscal quarter of 2016 show an increase in claims and money spent in court, but a decrease in revenue.
"ICBC analysis shows that this would increase rates for rate payers by half a billion dollars," said Adrian Dix, the B.C. NDP's critic for the insurance corporation.
"If any company in the private sector came through with these kind of results, everybody involved would be worried," he added.
BC Liberal ICBC strategy of laying off claims staff and cutting service fails completely. <a href="https://t.co/bSToTvCZHt">https://t.co/bSToTvCZHt</a>
—@adriandixNumbers from the public insurer show claims have shot up from an average of around 20,000 a year five years ago to 30,000 a year now.
ICBC says it's in the midst of hiring new claims staff to deal with the challenge. It said the increase in claims is because of fraud.
With files from Richard Zussman