Difference between revisions of "ICBC and Compulsory Coverage (12:X)"

ICBC is the sole provider of basic insurance for non-exempt vehicles in BC.  Exempt vehicles are described in sections 43–44 of the ''IVA'' and also in section 2 of the ''IVR''.  For most vehicles owned, leased or operated in BC, third-party liability coverage up to $200,000 is only available from ICBC.  Full coverage for exempt vehicles, extended coverage in excess of the basic coverage (third party liability insurance over $200,000, ''IVR'', s 67), and collision (“own damage”) insurance may be purchased from either ICBC or from private insurers. See [[Optional_ICBC_Insurance_(12:IV)|Section IV: Optional Insurance]], below. Note that private insurers may have their own requirement for coverage that may be above and beyond the requirements of ICBC

Subject to various limitations and exclusions, basic compulsory coverage is set out in the IVR and provides the insured with:

*first party coverage (Part 10);

*inverse liability (Division 1 of Part 10); and  

*underinsured motorist protection (UMP) (Division 2 of Part 10).

This insurance indemnifies the insured against liability imposed on the insured by law for the injury or death of another, and/or loss or damage to another’s property, to a total limit of $200,000 (IVR, s 67), to be shared among the victims of a motor vehicle accident (Schedule 3, s 1). The base limit of liability is $500,000 in claims made for a bus, and $300,000 in claims made for a taxi or limousine. Extended Third-Party Legal Liability coverage may be purchased at the insured’s discretion. (See [[Optional_ICBC_Insurance_(12:IV)|Section IV: Optional Insurance]], below). '''If the insured is found legally liable, and no extended coverage has been purchased, he or she is responsible for payment of any claims in excess of the above limits.'''

As of September 16, 2019, ICBC introduced a new insurance category (blanket insurance certificate) for transportation network services (TNS) or ride-hailing companies such as Uber and Lyft. The blanket basic coverage provides coverage up to $1,000,000 third party liability when the vehicle is a) hailed by passengers through the online platform and b) is operated to transport the passengers (IVR, s 154). This blanket coverage is not for individual drivers and it is mandatory for ride-hailing companies.

The definitions of “insured” for this part of the IVR may be found in IVR, s 63. For our purposes, the most relevant definitions of “insured” are: