Tag: ICBC Financial Statements

Show Me The Money 5: 2010 ICBC Doctor and Lawyer Billings Released


Its hard to believe this is my fifth installment of this series but its that time of year again.   ICBC has released their Statements and Schedules of Financial Information for 2010.  (You can click here, here, here, and here for my previous 4 discussions of this topic).
As discussed last year, this annual report contains a lot of interesting information.  None more so than the billings of “Suppliers of Goods and Services“.  Some of the Suppliers of Goods and Services are Lawyers and Doctors.  If you browse through this annual report you can see just how much any given lawfirm or doctor has been paid by ICBC in the 2010 Calendar Year.
ICBC routinely uses the services of a handful of doctors.  A quick look through this data reveals just how profitable the “Independent Medical Examination” business really can be.  Here are some highlighted reported ICBC doctor billings for 2010:
Dr. Paul B Bishop:  $366,226
Dr. Marc R. Boyle:  $122,207
Dr. K.M.W. Christian:  $95,752
Dr. I. G. Dommisse $236,550
Dr. Kenneth J Favero:  $304,731
Dr. Martin P. Grypma:  $304,375
Dr. H. E. Hawk:  $269,908
Dr. Duncan M. Laidlow: $104,082
Dr. Jordan M. Leith:  $198,058
Dr. Alexander Levin:  $426,744
Dr. Stephen Maloon:  $396,591
Dr. R. W. McGraw:  $387,600
Dr. Duncan McPherson:  $163,153
Dr. Alexander Moll:  $147,239
Dr. T. O`Farrell:  $113,595
Dr. N. K. Reebye:  $251,155
Dr. Peter M. Rees:  $232,338
Dr. J. F. Schweigel:  $324,271
Dr. O. M. Sovio:  $290,427
Another provider of ’services’ revealed in these financial statements are law firms who do ICBC defence work. I have previously posted that some lawfirms and lawyers work both sides of the fence, that is on some cases they work for ICBC and in other cases they work for injured plaintiff’s suing someone insured by ICBC. According to the BC Law Society there is nothing wrong with this but these lawyers need to let their clients know if they signed the ICBC defence contract (known as the SAA) which restricts the lawyers ability to make claims against ICBC.  This is required so clients can make an informed decision when choosing to hire their lawyer.
If you hired a lawyer to advance your ICBC injury claim and are curious if your lawyer also works for ICBC you can check these annual reports to see just how much money any given lawfirm is paid by ICBC in each calendar year.

What Do ICBC's 2010 Annual Report and Hot Coffee Have in Common?


ICBC’s 2010 Annual Report was recently released to little media attention.   Perhaps little attention accompanied the release because there were few exciting facts in the report.  At $361 million of Net Income last year alone ICBC continues to be very financially sound and stable.
This stability, however, is newsworthy on its own.  British Columbia has Canada’s fullest tort system for motor vehicle collision victims.  That means if you are injured through the fault of another you will have access to more meaningful compensation here than anywhere else in Canada.  The important underlying story here is that victim rights don’t need to be stripped (as other Provinces have done or proposed) to have a viable auto insurance system.
This story dovetails nicely into another newsworthy matter.  HBO’s much anticipated documentary Hot Coffee has now aired.  This movie documents, amongst other things, the infamous story of the 1990’s American lawsuit against McDonald’s after a patron burned herself with their coffee.  This is a classic example of frivolous lawsuits run a muck, right?  Watch the movie and decide for yourself.  You can click here to listen to my take on the Hot Coffee case as discussed with Charles Adler last year.
If you don’t have time to watch the documentary I’ll summarize one of the important points made.  Stories of a broken system and frivolous claims are often bandied about by the insurance industry.  These generate a lot more headlines than stories of financial insurance company stability.
The insurance industry often uses the momentum of these stories to argue that “reform” is necessary because the system is failing due to abuse.  As Hot Coffee illustrates, it is important to step back and scrutinize any claims that victim rights need to be stripped in order to have a functioning insurance system.  This usually is not the case.  When tort reformers ask for proof, point proudly to British Columbia’s full tort system and ICBC’s 2010 Annual Report.

Show Me the Money 4: 2009 ICBC Lawyer and Doctor Billings Released


It’s that time of year again, ICBC has released their Statements and Schedules of Financial Information for 2009. (You can click here, here and here to read my previous 3 installments addressing this topic)
This annual report contains a lot of interesting information.  None more so than the billings of “Suppliers of Goods and Services“.  Some of the Suppliers of Goods and Services are Lawyers and Doctors.  If you browse through this annual report you can see just how much any given lawfirm or doctor has been paid by ICBC in the 2009 Calendar Year.
ICBC routinely uses the services of a handful of doctors.  A quick look through this data reveals just how profitable the “Independent Medical Examination” business really can be.
Another provider of ’services’ revealed in these financial statements are law firms who do ICBC defence work. I have previously posted that some lawfirms and lawyers work both sides of the fence, that is on some cases they work for ICBC and in other cases they work for injured plaintiff’s suing someone insured by ICBC. According to the BC Law Society there is nothing wrong with this but these lawyers need to let their clients know if they signed the ICBC defence contract (known as the SAA) which restricts the lawyers ability to make claims against ICBC.  This is required so clients can make an informed decision when choosing to hire their lawyer.
If you hired a lawyer to advance your ICBC injury claim and are curious if your lawyer also works for ICBC you can check these annual reports to see just how much money any given lawfirm is paid by ICBC in each calendar year.

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ERIK
MAGRAKEN

Personal Injury Lawyer

When not writing the BC Injury Law Blog, Erik is the managing partner at MacIsaac & Company, based in Victoria, B.C. He is also involved with combative sports regulatory issues and authors the Combat Sports Law Blog.

“Work hard, be kind and enjoy the ride!”
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