The British Columbia Insurance Corporation (ICBC) has issued a release warning drivers across the province that snowfall has caused a surge in auto insurance claims.
In a release, the insurer said snowfall on B.C.’s south coast led to a surge in auto claims. As of Tuesday, Nov. 29, claims have jumped 94% from his 1,837 the week before Nov. 22 to his 3,567.
“With more snow likely in the next few days and weeks, ICBC is asking drivers to slow down, adjust their driving for winter conditions and have their vehicles ready,” the insurance said. The company said in a release.
The ICBC advises drivers in the state to put winter tires on their cars, drive slowly, be patient while driving, and watch out for ice. Insurance companies also say drivers have the option of avoiding driving in adverse conditions and planning their trips in advance. and if individuals are able to work from home, they should do so.
ICBC recently released its forecast for the current fiscal year, estimating a loss of $298 million. In addition to this, the Canadian Insurance Agency issued its own release noting that ICBC’s operating costs could rise to more than $1 billion next year. This is an increase of over 35% from 2018.
Recent snowfall drives 94% week-over-week increase in auto claims – ICBC
Source link Recent snowfall drives 94% week-over-week increase in auto claims – ICBC