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ICBC sees claims savings derived from investments in road improvements


September 9, 2010   by Canadian Underwriter


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A study examining ICBC’s investment in road improvements shows a correlation between those road investments and a reduction in fatal, severe-injury and non-injury crashes.
The evaluation, conducted by Tarek Sayed, a civil engineering professor at University of British Columbia, and Paul Deleur, a transportation safety engineer, indicates ICBC’s investment in 102 road improvement projects showed a 20% reduction in fatal and severe injury crashes and a 12% reduction in non-injury crashes.
For urban area road improvements, the study evaluated 42 projects where ICBC spent $1.6 million. These investments resulted in claims cost savings of $7.6 million over two years and $19.3 million over five years.
ICBC also spent $2.9 million on 60 projects on rural highways. These investments resulted in savings of $13.8 million over two years and $35.1 million over five years.
Projects included a range of countermeasures, including roundabouts, left hand turn bays, signage and median barriers.