Cost-reduction programs roducing quick results

NEWS REPORTS this time
last year were beginning to

sound the alarm over
ICBC’s projected 1992 defi-

ICBC S AUTO 1 TOPIC
by Ken Hardie

That deficit, first predicted at
$100 million, was due to higher-
than-anticipated —settlernents for
claims from past years. By June,
losses of close to $200 million
were being forecast.

Now, just a year later, we've
seen evidence that the programs
introduced Jast summer to reduce
ICBC’s 1992 deficit could help the

ROA

THE FOLLOWING are the
scheduled road closures and
detours for the coming week in
North Vancouver District, City,
West Vancouver District and
along area highways.

® North Vancouver District:

Doran Road: Fromme Road to
Mountain Bighway: Water main
replacement. Local traffic only.
East 18th Street: Mountain High-
way to Alderlynn Drive: Water
main replacement. Local traffic
only.

@ North Vancouver City: No
scheduled road closures or
detours.

ADVERTISING

; CORRECTION

| BRIDGE HOUSE RESTAURANT j
Ad appearing Wed., April 28/93
Inadvertently the ad listed a
PRIME RIB or ROAST LAMB
SPECIAL, valid until Sunday,

B May 2/93,

jit should have listed the SPE-
CIAL being valid enfy on SUN-
DAY, MAY 2/93. ;
We Sincerely regret any incon-
venience or confusion to our
customers.

corporation turn a surplus of over
$100 million by the ead of this
year,

Those programs started to pro-
duce results almost as soon as
ICBC introduced them last
August,

Until last September, the cost of
settling injury claims reported in
1992 was running 20% to 30%
higher than the corresponding
amounts in 1991, But by the end
of September, that increase was
less than 5%. In October,
November and December, injury
settlements were actually averag-
ing less than in the previous year,

Another key indicator of a con-
tinuing turnaround is the so-called
“Tragility index’? —- the number
of injury claims reported per 100
property damage claims. In 1989

@ West Vancouver District:
scheduled road closures
detours.

@ Ministry of Highways:

Squamish Highway: No scheduled
toad closures or detours.

Read the
BOOK REVIEW
every Wednesday in
the
North Shore News

AUTOMATIC TRANSM
"SERVICE & i ansigsion

OT ve Will :
performance (road test). gasket
“e aie transmission.

° » Replace transmission
. Replace trarismission | \

“+ # Adjust linkage as nec, -

it sat at just over 22, but by
mid-1992 it had climbed to more
than 26,

The policy of not accepting
whiplash injury claims from mis-
haps involving little or no vehicle
damage resulted in a steep decline
in that index in late 1992. Over
the first two months of 1993, the
index shows only 23 injury claims
per 100 damage claims.

The $100 million year-end

TS5ISR12

15$SA13

165/SR13

465ISRIS

175/80R13
185/80R13
175/70R13
185/70R13
18S/70R14
195/70R14
185/75R14
195/75R14
205/75R14
205/75R15
215/75R15
22S/75R15

surplus now being forecast would
help return the corporation to a
sounder financial footing which,
in turn, would benefit all B.C.
motorists,

Building a stronger financial
base for ICBC means rebuilding
its reserves. The 1992 annual
report noted that deficits over the
last two years have all but ex-
hausted ICBC's Rate Stabilization
reserve, which the corporation us-

Ral VEGISRW.L

PASAT

PIsH70R13
Prasronta
PIgsrORt4
P20S7TOR14
P2isronie
P22siroRts
P2as/70R15
P25S70R15
P2iSISORI4
P2ISGR14
P245160R14
P2ISHORIS
P24560R15
P2s5i60R15
P27sis0R15
PRIS85AI5

ed to protect motorists from even
larger premium = increases than
they’ve experienced.

The ongoing impact of ICBC’s
cost-reduction programs, plus
other measures we will outline
next week, will mean those
reserves will be replenished. As a
result, motorists can expect only
modest increases in Autoplan
premiums for 1994.

{taleed white tettsrs)
SALE PRICE

SPECIAL

11444
118.95 F

LT218/05R16
LT235/a5A16

LTI9S75R14 $94.19
LT2tSI75R15 98.80

ALL-SEASONS uniroyval LAREDO
P2a575 AIS
AND BALANCED

LAREDO®

ALL-SEASON LT TRUCK RADIAL LT8.75R16.5

LT9.50R16.5

129.87 §

LT235/75R15 103.48 7
141.12 9

LT245/75R16 123.18

_ ES |
| RUPERT ST.

_ MAIN STREET :

Relax. Let Honda Worry about repair costs
up to 6 years or 160,000 km down the road.

The Honda Plus Roadside Assistance Plan,

Because emergencies

seldom h

appen in your garage.

Special offer until June 30/93.

If you own a Honda or Acura that has less than 60,000 km
on the odometer and 36 months have not expired since the
original registration of your car, you qualify for Honda's 6
year, 160,000 km Extended Warranty and Roadside
Assistance! Please contact our Business Manager or one of
our, Sales Representatives for more information.

SALES, LEASING
& SERVICE

984-0331}

ACIFIC
FAONDA

2 BLOCKS EAST
OF CAPILANO MALL