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ICBC rate increases coming

ICBC is asking the provincial government for a few extra months to work out how it can keep rate increases down.

Basic insurance could go up by 6.7% as the crown corporation faces an explosion in bodily injury claims.

Transportation Minister Todd Stone has learned from ICBC of a 10% increase in such costs the last year alone totalling almost $2.2 billion.

ICBC says there are more potentially exaggerated and fraudulent claims.

Stone says the possible 6.7% rate hike is too much and government will be working with ICBC on strategies to reduce that.

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