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

There is a limit to how much ICBC will pay out for any individual claim made under section 20 of the IVA. Regardless of the number of claims or the number of people making claims, the limit of ICBC’ s liability arising out of the same accident is $200,000, including claims for costs, pre-judgment, and post-judgment interest (see IVR, s 105 and Schedule 3, s 9(1)).The insured and the claimant both have an obligation to seek other sources of coverage.   Applicants may have other sources of insurance, including claims or benefits under the Workers’ Compensation Act, RSBC 1996, c 492, the Employment Insurance Act (Canada), RSC 1996, c 23, and/or the government of Canada or provinces or territories. It is important that applicants apply for all benefits they are entitled to under the above sources of coverage or other similar sources coverage since ICBC is relieved from paying the of judgment equal to what is provided by these sources. Furthermore, applicants should also apply for all benefits and/or coverage from any private insurance that they may have as soon as possible.   An applicant may have private insurance through their employer. ICBC may not be obligated to pay benefits that could have been received (note: need not actually receive) from another source.If a decision is made concluding that ICBC is not liable for these amounts, the limitation period for making a claim through the other source will most likely have ended.See section 81, 83 and 106 of the IVR for more details.   Also, see Section II.D.3. Exclusion of ICBC Liability, below.