[CP.AR]

Yeah so what happened to lower premiums? now they MIGHT increase them... im confused as hell

VANCOUVER (NEWS1130) - We may be seeing a hike in insurance rates over an increased number of crash injuries.

ICBC says it paid out around $1.5 billion to people hurt in accidents last year. That's on top of a 25 per cent spike in payouts for average injury claims between 2006 and 2010.

BC's public insurer is concerned that the number of bodily injury claims climbed about five per cent between 2009 and 2010.

The Corporation's Adam Grossman says that is in reverse to a long-standing trend. "The number of bodily injury claims were coming down year-on-year. That is the number of claims coming in."

ICBC is expected to announce its new rates later this year, but can't say if or how the latest statistics will affect the fees.

Last year, ICBC slashed basic insurance rates by 2.4 per cent thanks to lower than expected payouts. There was also a three per cent reduction to optional rates.

source: http://www.news1130.com/news/local/article/202193--get-ready-for-higher-car-insurance-rates

[kyoshiro]

blame richmond c-lais
and ugh the richmond ice
and the richmond snow
I'd hate to pay more on insurance than I currently am for 2 vehicles.

[gdoh]

pay outs to people who milk the system

[Greenstoner]

i thought they just recently lowered the rate ...wtf ? now increases it ?

[DavidNguyen]

I know this was gonna happen. Lower it. Then raise it
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[Qmx323]

http://www.phuckpolitics.com/wp-content/uploads/2008/11/shit_sandwich.jpg

[wasabisashimi]

blame richmond c-lais
and ugh the richmond ice
and the richmond snow
I'd hate to pay more on insurance than I currently am for 2 vehicles.

Pretty ignorant statement!

I agree the C-lais are stupid slowass drivers, but here in maple ridge/ Langley/Surrey, I see "non-c-lai drivers" who shouldn't be on the road, but they all have trucks and SUVs which is far more dangerous to drive without common road sense.

[Matlock]

Can't they just double the premiums for bad drivers?
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[whateverman]

they'll just put it under someone else name

[kyoshiro]

Pretty ignorant statement!

I agree the C-lais are stupid slowass drivers, but here in maple ridge/ Langley/Surrey, I see "non-c-lai drivers" who shouldn't be on the road, but they all have trucks and SUVs which is far more dangerous to drive without common road sense.

you remind me of the time a pick up truck driven by a white guy was speeding when the roads were iced up in richmond.
well I must say its mostly the new immigrants with absolutely shit driving skills are causing most havoc these days, especially those who got their license in China. one of my China new immigrant neighbor was able to knock over a spotlight lamp in his 7 series just from turning into the complex and wont admit it. I face palm I face palm.

[bloodmack]

I've seen a Caddy CTS do a U turn and went to fast and the turn was wider then expected and he nailed the lamp post and instead of checking the damage he reversed and ran off. I was sitting at the left hand turn signal as this happend, me and my buddy where so dumbfounded we sat there for a few seconds in silence.

[ImpactZ]

you remind me of the time a pick up truck driven by a white guy was speeding when the roads were iced up in richmond.
well I must say its mostly the new immigrants with absolutely shit driving skills are causing most havoc these days, especially those who got their license in China. one of my China new immigrant neighbor was able to knock over a spotlight lamp in his 7 series just from turning into the complex and wont admit it. I face palm I face palm.

face palm your ass out of here

there are bad drivers in every race.

[bloodmack]

face palm your ass out of here

there are bad drivers in every race.

Yeah its called last place

[dark0821]

but c lais drive more expensive cars
=
more expensive pay outs for insurance while c lais only pay deductable....

Cayenne bumper, S-class bumper =/= civic bumper or a F150 bumper xD

[dachinesedude]

pay outs to people who milk the system

werd

i know too many ppl who claims injuries when they actually arent hurt

most common scenerio - get rear-ended, claim for neck stiffness, get free physiotherapy

[kyoshiro]

werd

i know too many ppl who claims injuries when they actually arent hurt

most common scenerio - get rear-ended, claim for neck stiffness, get free physiotherapy

probably too many collision ads on tv for milking money out of the system

[godwin]

That is not milking the system. You do get soft tissue damage, especially when people use those stupid cartoon pillow things.

People who are milking the system are usually people who have additional coverage from work AND a second out of the country residence. They get into an accident, claim permanent injury, say they can't work for life, then skip out of the country. Cheques keeps going to the injured party for life and insurance companies don't have jurisdiction or bother with monitoring the person who is not longer local.

ICBC payout is so meagre it is not worth milking it. However if your work has additional insurance it is another story, most typical is any unionized professionals like teachers etc.

werd

i know too many ppl who claims injuries when they actually arent hurt

most common scenerio - get rear-ended, claim for neck stiffness, get free physiotherapy

[FerrariEnzo]

WHY THE FUCK ding everyone.. DING the fuckers who crash.... people who dont have accidents for 8+ years should have to pay for this shit

[eurochevy]

ya raise it so they can make another 100 million profit like they make every F*((ing year

[DHP 1]

Why am i not surprised


:devil:

[dangonay]

pay outs to people who milk the system

Exactly.

Can't they just double the premiums for bad drivers?
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Doubling the premiums of a driver who rear ends someone won't make up for the payout to a single person claiming whiplash. Remember, it's not the people causing the accident that are milking the system. It's the people who get hit who are costing ICBC money.

If an honest driver (many years clean driving record) makes a mistake and rear ends someone in a low speed crash, and the victim makes a claim for an injury that didn't occur, then who do you punish? The driver or the fucking POS scammer milking ICBC for everything he can get?

ICBC payout is so meagre it is not worth milking it. However if your work has additional insurance it is another story, most typical is any unionized professionals like teachers etc.

Really. Do you know anything about how much money ICBC pays out for insurance claims? Almost 50% of ICBC's expenses go to claims made from minor speed rear end accidents where the party who gets hit claims whiplash. Everything else - collision repairs, rehabilitation/medical expenses for serious accidents, payouts for deaths caused by accidents, stolen vehicles, vanadalism and so on - these make up the other 50%.

There are a lot of organized insurance scams going on in The Lower Mainland (ICBC busted one ring recently). Basically they involve a car with 4 people who stop suddenly in front of another driver, then claim whiplash from the resulting collision. Usually they have "blocking" drivers in other cars to help stage the accident and prevent the targeted vehicle from changing lanes to avoid the accident. They also offer their details to act as "witnesses" for the poor "victims". Insurance fraud wouldn't exist if it wasn't profitable (and if ICBC didn't pay out much it wouldn't be worth their trouble).

[BNR32_Coupe]

insurance fraud is nothing new, there always has been, and always will be, some degree of fraud.

icbc should look into cutting operating costs before jacking up rates. but because they're a monopoly, they can jack up rates all they want without having to worry about staying competitive.

[eythappy]

but c lais drive more expensive cars
=
more expensive pay outs for insurance while c lais only pay deductable....

Cayenne bumper, S-class bumper =/= civic bumper or a F150 bumper xD

actually, from my POV, I would give some credit to the C lais
for no offense,
1. they are paying a lot more $$$$ to the Damn ICBC since they are driving luxi cars and claim their CRISP bumperS.:fullofwin:
BTW, who is going to cost more $$$ for medical treatments, ppl in S-class or civc?common sense, medical treatments and other oppotunitiy costs can cost N bumpers, and N can be large if ppl likely pass away..lol..
2. What you are expecting to ur mum's driving skill?
3. Well,the C laid has a good car w/ high techs stuff(rear view camera..etc). How about other lais? I believe racsim is Not welcome.
Just wanna point out, plz be fair.... and u got ur lower handle..XD..
Peter Russel: Be a man~!
ME: Drive safely :whistle:

[godwin]

All insurance / banking industry is susceptible to fraud. That's part of their business and honestly is build into their business plan.

I would qualify my statement: For individuals who are involved in an legitimate accident. Just trying to "scam" the ICBC alone for soft tissue damage etc the payoff is honestly relatively small. When you consider occupations with large unions eg health care workers, teachers etc or professional societies like law, engineers all have out of work insurance that cover up to 80-90% of their loss wages as part of their annual dues and contributions.. Those are the mother lode and way more attractive to defraud. Often institutions like universities and hospitals also purchase additional policies as benefits for their senior level staff too.

My aunt used to car pool with an acquaintance daily to one of the largest hospitals in the valley, they are hospital administrators. About a decade ago, they were rear ended, they all were sore and had soft tissue damage. They claimed loss of work via their unions and the hospital policies. This acquaintance subsequently left the country and last my aunt heard, she is still claiming loss of work insurance (she knows because the insurance company's adjuster still bugs her a few times a year about the acquaintance's whereabouts) and she is still technically hired by Fraser Health but marked on medical leave on the roster. As long as you show up to your doctor as per the policy and get the doctor to get the paperwork filed, the loss of work insurance keeps paying. The type of payout of this is way larger than any ICBC claim payout will be.

(Just imagine when the elimination of mandatory retirement kicks in after the next election!)

Exactly.
Really. Do you know anything about how much money ICBC pays out for insurance claims? Almost 50% of ICBC's expenses go to claims made from minor speed rear end accidents where the party who gets hit claims whiplash. Everything else - collision repairs, rehabilitation/medical expenses for serious accidents, payouts for deaths caused by accidents, stolen vehicles, vanadalism and so on - these make up the other 50%.

There are a lot of organized insurance scams going on in The Lower Mainland (ICBC busted one ring recently). Basically they involve a car with 4 people who stop suddenly in front of another driver, then claim whiplash from the resulting collision. Usually they have "blocking" drivers in other cars to help stage the accident and prevent the targeted vehicle from changing lanes to avoid the accident. They also offer their details to act as "witnesses" for the poor "victims". Insurance fraud wouldn't exist if it wasn't profitable (and if ICBC didn't pay out much it wouldn't be worth their trouble).

[Meowjin]

^some assholes do that at my work. annoys the shit out of me.

I look ont he guys facebook and he's in india. Some other idiot has been on wcb for 3 years for hitting his fucking knee on a bench.

FUCK SURREY.

[dangonay]

godwin, you're completely missing the point. What does ICBC raising rates to cover expenses have to do with people in unions who have 3rd party insurance? If anything, that should help ICBC since the person is going to put their effort into collecting from their optional insurance (since that's where the money is, as you say) moreso than trying to collect from ICBC (which, by your comments is "meagre").

Optional insurance has nothing to do with the fact ICBC pays out 50% of its expenses to people claiming "whiplash" in minor rear end collisions.

Another way to think of it is this: next time you renew your insurance, divide your bill by half and thats how much is going to people involved in these fender benders.

[Mancini]

insurance fraud is nothing new, there always has been, and always will be, some degree of fraud.

icbc should look into cutting operating costs before jacking up rates. but because they're a monopoly, they can jack up rates all they want without having to worry about staying competitive.

I have a friend in management at one of the branch offices. He says that they have '70's decor and old computer systems.