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ICBC's buried costs drive up auto insurance bills

No fault coverages add $300 million to ICBC’s costs—that’s $74 for each passenger car.

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On average, ICBC's $15,000 repair bill for a luxury car is roughly six times higher than for a typical car.

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The recent revelation from the Finance Ministry’s probe into Crown corporations that found ever-more and ever-higher paid managers at ICBC has enraged British Columbians and especially consumers of auto insurance in this province.

It is of course entirely possible that ICBC, a government-owned monopoly, has too many managers and that they’re paid too much.