Government steps in to direct ICBC changes

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The provincial government is directing changes for the ICBC in order to end its financial crisis, yet keep insurance rates affordable for BC drivers. The changes, which will take effect on April 1st 2019, include a limit of $5,500 on pain and suffering for minor injury claims, and doubling the overall medical care and recovery cost allowance to $300,000 – a change which will be made retroactive to January 1st, 2018, in order to protect injured passengers and motorists immediately. These changes are expected to lower the amount of money ICBC currently spends on legal fees and expenses, which are taking up about 24% of its budget. To learn more about the changes, go to icbc.com/change.

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