Primary reasons are higher bodily injury costs, as well as claims taking longer to resolve, which often result in higher claims costs. A key driver of these costs is a growing trend toward plaintiff lawyers strategically building the value of the claim costs which have to be paid for by ICBC ratepayers. Said that since March last year, the dollar value of settlements demanded by lawyers for plaintiffs rose by 27 per cent and the average cost of closed, litigated injury claims for the first six months of fiscal 2018 hit $121,686, up from $100,427 during the same period last year..
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