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

Line 372:

===== (2) Who is Covered? =====

Section 147 of the IVR has its own definition of “insured”, which includes:

Section 147 of the ''IVR'' has its own definition of “insured”, which includes:

*(a) the person named as an owner in an owner's certificate or if deceased, his or her personal representative;

*(b) a person who can provide written proof that he or she is the beneficial owner of a commercial vehicle described in an owner's certificate; or

Line 379:

===== (3) What is Covered? =====

“Loss or damage” in this section means damage to the vehicle and does not include compensation for medical or rehabilitation costs. Compensation is to the extent to which the insured would have recovered if he or she had a right of action. In other words, ICBC will pay to the extent that the other driver is found liable (IVR, s 147). However, this amount is limited to the lesser of the cost of the vehicle repair, the declared value of the vehicle, or the actual cash value of the vehicle.

“Loss or damage” in this section means damage to the vehicle and does not include compensation for medical or rehabilitation costs. Compensation is to the extent to which the insured would have recovered if he or she had a right of action. In other words, ICBC will pay to the extent that the other driver is found liable (''IVR'', s 147). However, this amount is limited to the lesser of the cost of the vehicle repair, the declared value of the vehicle, or the actual cash value of the vehicle.

===== (4) Dispute Resolution =====

@@ Line 372: / Line 372: @@
 ===== (2) Who is Covered? =====
-Section 147 of the IVR has its own definition of “insured”, which includes:
+Section 147 of the ''IVR'' has its own definition of “insured”, which includes:
 *(a) the person named as an owner in an owner's certificate or if deceased, his or her personal representative;
 *(b) a person who can provide written proof that he or she is the beneficial owner of a commercial vehicle described in an owner's certificate; or
@@ Line 379: / Line 379: @@
 ===== (3) What is Covered? =====
-“Loss or damage” in this section means damage to the vehicle and does not include compensation for medical or rehabilitation costs. Compensation is to the extent to which the insured would have recovered if he or she had a right of action. In other words, ICBC will pay to the extent that the other driver is found liable (IVR, s 147).  However, this amount is limited to the lesser of the cost of the vehicle repair, the declared value of the vehicle, or the actual cash value of the vehicle.
+“Loss or damage” in this section means damage to the vehicle and does not include compensation for medical or rehabilitation costs. Compensation is to the extent to which the insured would have recovered if he or she had a right of action. In other words, ICBC will pay to the extent that the other driver is found liable (''IVR'', s 147).  However, this amount is limited to the lesser of the cost of the vehicle repair, the declared value of the vehicle, or the actual cash value of the vehicle.
 ===== (4) Dispute Resolution =====

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

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