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Difference between revisions of "Introduction to ICBC Automobile Insurance (12:I)"
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Introduction to ICBC Automobile Insurance (12:I) (view source)
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*'''Insured persons''', and '''insurers''', and '''ICBC''' in relation to these insurance plans or contracts. | *'''Insured persons''', and '''insurers''', and '''ICBC''' in relation to these insurance plans or contracts. | ||
'''NOTE:''' The critical time to look at is the date on which the individual insurance policy or contract came into effect, or was renewed. | :'''NOTE:''' The critical time to look at is the date on which the individual insurance policy or contract came into effect, or was renewed. | ||
Claims and parties to the claims in relation to an insurance policy that came into effect before June 1, 2007 will continue to be governed by the old IMVA and IMVAR. It is entirely possible for a single accident to trigger the operation of both the old and new Acts simultaneously, (albeit in relation to different aspects of the resultant legal issues). | Claims and parties to the claims in relation to an insurance policy that came into effect before June 1, 2007 will continue to be governed by the old IMVA and IMVAR. It is entirely possible for a single accident to trigger the operation of both the old and new Acts simultaneously, (albeit in relation to different aspects of the resultant legal issues). | ||
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''Limitation Act'', RSBC 1996, c 266, s 3(2). | ''Limitation Act'', RSBC 1996, c 266, s 3(2). | ||
:'''NOTE:''' The ''Insurance (Motor Vehicle) Act'' [IMVA] and the ''Insurance (Motor Vehicle) Act'' - Revised Regulations (1984) [IMVA Regulations] were amended and renamed the ''Insurance (Vehicle) Act'' [IVA] and ''Insurance (Vehicle) Regulation'' [IVR] respectively. The IVA and IVR came into force and effect on July 1, 2007. Note that there are transitional provisions governing whether the provisions of the old Act, new Act, or both Acts apply to an individual claim. | |||
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