ICBC and province settle class-action lawsuits for $13 million, but 5.6 million drivers get nothing
Vancouver Sun
ICBC and the province agreed to pay nearly $13 million to settle two class-action lawsuits, but the estimated 5.6 million drivers involved will receive nothing.Summary
ICBC and the British Columbia government have agreed to pay nearly $13 million to settle two class-action lawsuits alleging the insurance corporation illegally drove up premiums since 1973. The settlement includes $12.2 million for the general class of drivers and nearly $700,000 for 275 accident victims. However, the estimated 5.6 million insured drivers will receive nothing, as the judge ruled the funds should go to charities Mothers Against Drunk Driving and Parachute. The judge deemed the settlements "fair and reasonable" despite the plaintiffs' lawyers estimating the potential payout could have been as high as $300 million. The provincial government is responsible for paying the $12.2 million settlement.
(Source：Vancouver Sun)