ICBC invests in road safety

A 2009 independent evaluation concluded that for every dollar invested, ICBC and customers see a return five to 12 times the investment

Insurance Corporation of B.C. has spent $10,200 to install rumble strips along Highway 5 in Darfield. The road improvement project was one of 12 in Kamloops and surrounding area that ICBC invested in during 2010 to help make roads safer. The 12 projects cost a total of $170,000.

Other projects include $9,800 for signing and delineation improvements along Highway 24 near Little Fort.

Both the North Thompson projects were done in partnership with the Ministry of Transportation and Infrastructure while several of the others were done with the City of Kamloops.

According to the insurance corporation, a 2009 independent evaluation concluded that for every dollar invested, ICBC and customers see a return five to 12 times the investment. That is, for every dollar invested, ICBC and customers save $5.60 over two years and $12.80 over five years in reduced crash costs. All proposed road improvement projects are assessed on their ability to make roads safer.

For example, in the Kamloops area, ICBC invested $23,500 for the installation of barriers, improved shoulder and signage and pavement markings on Highway 1 at Hoffmans Bluff. The 2009 evaluation showed the improvements resulted in a 81 per cent drop in property damage claims and a 68 per cent drop in severe injury crashes, saving $141,300 over two years and $350,200 over five years.

“Keeping drivers and pedestrians safe on our roads is a priority, something ICBC also supports,” said Terry Lake, Kamloops-North Thompson MLA. “These investments will be a great benefit to our area.”

 

ICBC launched the road improvement program in 1989 and since then, has invested approximately $100 million in projects across B.C. In 2010, ICBC invested approximately $1.8 million in projects in the Southern Interior and $9 million in 280 projects throughout B.C.