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Difference between revisions of "ICBC and Compulsory Coverage (12:X)"
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ICBC and Compulsory Coverage (12:X) (view source)
Revision as of 19:45, 23 August 2022
, 19:45, 23 August 2022→7. Duties of the Insured
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An insured has a duty to report to ICBC mid-term changes, as required by s 9 of the ''IVR''. These changes may result in an increase or decrease in the premiums paid to ICBC. The insured named in the owner’s certificate is obligated to report to an ICBC agent the following: | An insured has a duty to report to ICBC mid-term changes, as required by s 9 of the ''IVR''. These changes may result in an increase or decrease in the premiums paid to ICBC. The insured named in the owner’s certificate is obligated to report to an ICBC agent the following: | ||
<blockquote> | <blockquote> 9 (1) In this section, "the territory in which the vehicle is primarily located when not in use" means the territory in which the place where the vehicle is kept when not being driven is located. | ||
(2) The insured named on an owner's certificate must, <blockquote> (a) within 10 days after <blockquote> (i) the insured's address is changed from the address set out in the certificate, or | |||
(ii) the insured acquires a substitute vehicle for the vehicle described in the certificate, or </blockquote> | |||
(b) before <blockquote> (i) the use of the vehicle described in the certificate is changed to a use to which a different vehicle rate class applies than the vehicle rate class applicable to the use set out in the certificate, or | |||
(ii) a vehicle in respect of which the premium is established on the basis of the territory in which a vehicle of that vehicle rate class is used or principally used, as the case may be, is used or principally used in a different territory than that set out in the certificate,</blockquote> </blockquote> | |||
report the change of address, vehicle, use or territory to a person referred to in section 3, and pay or be refunded the resulting difference in premium. | |||
(3) If the premium for a vehicle is established on the basis of the territory in which the vehicle is primarily located when not in use and that territory as set out in the owner's certificate is changed, the insured named on the certificate must, unless the vehicle is being used by the insured for vacation purposes, report the change to a person referred to in section 3 within 30 days of the change, and pay or be refunded the resulting difference in premium. | |||
</blockquote> | |||
Furthermore, ICBC is not liable to indemnify an insured who, to the prejudice of ICBC, fails to comply with duties outlined in s 73 of the ''IVR''. This section states that an insured: | Furthermore, ICBC is not liable to indemnify an insured who, to the prejudice of ICBC, fails to comply with duties outlined in s 73 of the ''IVR''. This section states that an insured: | ||
