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Difference between revisions of "ICBC and Basic Coverage (12:III)"
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ICBC and Basic Coverage (12:III) (view source)
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* must not settle a claim without the written consent of ICBC </blockquote> | * must not settle a claim without the written consent of ICBC </blockquote> | ||
(''IVR'', s 148(4)</blockquote> | (''IVR'', s 148(4)</blockquote> | ||
===3. Underinsured Motorists=== | |||
Underinsured motorist protection provides damages for injury or death in circumstances in which the other party to the accident, “is legally liable for the injury or death of an insured but is unable, when the injury or death occurs, to pay the full amount of damages recoverable by the insured or his personal representative in respect of the injury or death” (''IVR'', s 148.1(1)). In such cases, ICBC will, “compensate the insured, or a person who has a claim in respect of the death of the insured, for any amount he is entitled to recover from the underinsured motorist as damages for the injury or death” (''IVR'', s 148.1(2)). | |||
Circumstances in which underinsured motorist protection would apply are uncommon under the new no-fault system, but could arise in situations where the insured doesn’t have access to compensation for injury under Enhanced Care and the other driver is liable for the accident but is underinsured. | |||
The amount of coverage for underinsured motorist protection is capped at $1 million (''IVR'', Schedule 3, s 13). | |||
Underinsured motorist coverage applies to accidents in both Canada and the United States (IVR, s 148.1(2)(b)). However, underinsured motorist coverage only applies in jurisdictions or situations where there is a right of action (an ability to sue) for damages from an accident injury (''IVR'', s 148.2(4)(a)). [[When You Can Still Sue (12:VII)|See Section VII: When You Can Still Sue]] for a list of situations in which an insured individual may still be able to sue for injury arising from an accident in BC. | |||
In cases of hit and run accidents involving an underinsured motorist, underinsured motorist protection only applies where: | |||
<blockquote>(a) the hit and run accident occurs on a highway, and | |||
(b) where the hit and run accident occurs in the Yukon, Northwest Territories or United States of America, there is actual physical contact between the insured or the vehicle occupied by the insured and the unidentified vehicle. | |||
(''IVR'', s 148.1(4))</blockquote> | |||
It is important to note that, in relation to underinsured motorist protection, ''an insured is not permitted to settle an action without ICBC’s written consent'' (''IVR'', s 148.2(4)(b)). | |||
{{LSLAP Manual Navbox|type=chapters8-14}} | {{LSLAP Manual Navbox|type=chapters8-14}} | ||
