Hard Data on ICBC's Legal Costs from 2003-2011
As previously discussed, one of the benefits of having a crown corporation as our Provincial auto-insurer is the accountability that comes with public reporting obligations.
In support of ICBC’s recent request for a rate increase with the BC Utilities Commission ICBC filed thousands of pages of further data earlier this week. ICBC’s latest filing can be found here.
Included in the filing was data relating to ICBC’s legal costs from 2003-2011. On review it is apparent that many of these costs have remained steady over time while some expenses have decreased dramatically. I highlight this information as it runs against the notion advanced by so-called ‘tort-reformers‘ that litigation costs are ever increasing or somehow out of control. To the contrary, this data reveals a fairly steady and reliable system in action.