ICBC and province settle class-action lawsuits for $13 million, but 5.6 million drivers get nothing
ICBC and the province agreed to pay nearly $13 million to settle lawsuits alleging illegal premium increases, but the payout averages only $2 per driver.Summary
The British Columbia government and ICBC 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 broader class of 5.6 million drivers, which averages out to about $2 per person. However, the judge ruled that distributing this amount directly to the drivers was impractical, so the funds will instead go to two charities: Mothers Against Drunk Driving and Parachute. The remaining settlement covers 275 accident victims, awarding them 100% of their claims plus $1,000 each for general damages and interest. The judge deemed both settlements "fair and reasonable" and noted that the plaintiffs' lawyers successfully navigated significant legal risks, including a law passed last year designed to limit the lawsuit's scope.
(Source：The Province)