ICBC has saved about $158 million because there have been fewer crashes during the novel coronavirus pandemic, a new report released Thursday shows.
Attorney General David Eby released the report alongside ICBC's CEO, and it showed how the COVID-19 pandemic has impacted the public insurer's finances.
According to the report, ICBC opened 46 per cent fewer claims between March 15 and May 2 compared to that same period of time last year.
The review was prompted after questions arose about whether the insurer was seeing costs reduced as fewer people were on the roads.
Eby has previously said there were negative impacts as well, such as the impact on investments, and cancellation of insurance policies.