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Difference between revisions of "Introduction to ICBC Automobile Insurance for Accidents on or Before April 30 2021 (12:VIII)"
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Introduction to ICBC Automobile Insurance for Accidents on or Before April 30 2021 (12:VIII) (view source)
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=== 2. Subrogation === | === 2. Subrogation === | ||
Subrogation is a common feature of insurance contracts. When ICBC assumes liability for payment of benefits or damages of any kind on behalf of the insured, ICBC is ‘subrogated’ to the right of recovery that the insured had against any other person (''IVA'', s 84), i.e., ICBC has all remedies available to it that the insured person might have exercised by | Subrogation is a common feature of insurance contracts. When ICBC assumes liability for payment of benefits or damages of any kind on behalf of the insured, ICBC is ‘subrogated’ to the right of recovery that the insured had against any other person (''IVA'', s 84), i.e., ICBC has all remedies available to it that the insured person might have exercised by themselves (''IVA'', s 83). | ||
=== 3. Premiums and Point Penalties === | === 3. Premiums and Point Penalties === | ||
