Vancouver, British Columbia – Road improvement investments by the Insurance Corporation of British Columbia (ICBC) are helping to keep everyone safer, according to a 2009 evaluation. The investment in 102 road improvement projects, from a total of 750 projects, showed a 20 per cent reduction in fatal and severe injury crashes, and a 12 per cent reduction in non-injury crashes.
“Road improvements deliver real value to our customers and all road users, from drivers to pedestrians,” said Nicolas Jimenez, director of road safety for ICBC. “Over the past 21 years, we’ve invested about $100 million in more than 2,750 road enhancements to help make our roads safer for everyone.”
The evaluation concluded that for every dollar invested, ICBC and its customers see a return five to twelve times the investment. In monetary terms, for every dollar invested, ICBC and its customers save $5.60 over two years, and $12.80 over five years, in reduced crash costs.
For urban-area road improvements, the study evaluated 42 projects where ICBC spent $1.6 million, resulting in savings of $7.6 million over two years, and $19.3 million over five years. The savings on rural highway areas were even higher, with $2.9 million spent on 60 projects that resulted in savings of $13.8 million over two years, and $35.1 million over five years.