A new study released by the Fraser Institute finds misguided government decisions are largely to blame for the financial crisis facing the Insurance Corporation of B-C. The report says previous B-C governments failed to make the difficult decisions need to contain rising costs — and that led to current financial woes that are expected to leave the public auto insurer with a 1.3-billion dollar loss this fiscal year. Fraser Institute senior fellow John Chant says total claim costs increased 61 per cent between 2012 and 2017 while the average cost per policy went up just 40 per cent — and losses were compounded when what had been a profitable optional insurance business at I-C-B-C started losing money in fiscal 2016. Chant says the previous government did nothing to either contain rising costs or increase basic insurance rates substantially — leaving I-C-B-C in a financial position that is unsustainable.