Introduction to ICBC's Autoplan Insurance System (Prior System) (12:VIII): Difference between revisions
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Introduction to ICBC's Autoplan Insurance System (Prior System) (12:VIII) (view source)
Revision as of 22:03, 17 December 2021
, 17 December 2021→2. Subrogation
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=== 2. Subrogation === | === 2. Subrogation === | ||
Subrogation is a common feature of insurance contracts. When ICBC assumes liability for payment of benefits or damages of any kind on behalf of the insured, ICBC is ‘subrogated’ to the right of recovery that the insured had against any other person (''IVA'', s 84), i.e., ICBC has all remedies available to it that the insured person might have exercised by | Subrogation is a common feature of insurance contracts. When ICBC assumes liability for payment of benefits or damages of any kind on behalf of the insured, ICBC is ‘subrogated’ to the right of recovery that the insured had against any other person (''IVA'', s 84), i.e., ICBC has all remedies available to it that the insured person might have exercised by themselves (''IVA'', s 83). | ||
=== 3. Premiums and Point Penalties === | === 3. Premiums and Point Penalties === | ||