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ICBC’s bold change to auto insurance

BC’s newly announced no-fault care-based auto injuries benefits include a minor injury cap of $5,500 for pain and suffering, an increase in accident benefits to $300,000 and up to 7.5 million for catastrophic injuries. And a premium rate reduction of 20% for drivers.

Might Ontario be contemplating something similar with the yet-to-be-unveiled Care not Cash model?

 

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The story behind ICBC’s bold change to auto insurance