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Difference between revisions of "ICBC and Personal Injury Claims (12:XII)"
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ICBC and Personal Injury Claims (12:XII) (view source)
Revision as of 04:01, 7 October 2022
, 04:01, 7 October 2022→3. ICBC’s Obligations to the Insured
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ICBC has an obligation to protect the insured by making an effort to settle the claim in the limits of the amounts of coverage. Insurers are under an obligation to consider the interests of their insured in deciding whether to settle a claim. The insurer assumes by contract the power of deciding whether to settle and it must exercise that power in good faith. | ICBC has an obligation to protect the insured by making an effort to settle the claim in the limits of the amounts of coverage. Insurers are under an obligation to consider the interests of their insured in deciding whether to settle a claim. The insurer assumes by contract the power of deciding whether to settle and it must exercise that power in good faith. | ||
In [http://www.canlii.org/en/bc/bcsc/doc/1990/1990canlii3814/1990canlii3814.html?autocompleteStr=fredrikson%20v&autocompletePos=2 ''Fredrikson v Insurance Corporation British Columbia''], 1990 CanLII 3814 (BCSC), Esson CJ. summarizes the law respecting the insurer’s duty to its insureds in certain areas discussed therein. In this particular case, ICBC acted in good faith, and in a fair and open manner, followed the course the insured wished to take. Among the points raised in the judgment are: | In [http://www.canlii.org/en/bc/bcsc/doc/1990/1990canlii3814/1990canlii3814.html?autocompleteStr=fredrikson%20v&autocompletePos=2 ''Fredrikson v Insurance Corporation of British Columbia''], 1990 CanLII 3814 (BCSC), Esson CJ. summarizes the law respecting the insurer’s duty to its insureds in certain areas discussed therein. In this particular case, ICBC acted in good faith, and in a fair and open manner, followed the course the insured wished to take. Among the points raised in the judgment are: | ||
*i) the exclusive discretionary power of ICBC to settle liability claims places the insured at the mercy of the insurer | *i) the exclusive discretionary power of ICBC to settle liability claims places the insured at the mercy of the insurer | ||
*ii) this vulnerability imposes duties on the insurer to act in good faith and deal fairly, and to not act contrary to the interests of the insured, or, at least, to fully advise the insured of its intention to do so; | *ii) this vulnerability imposes duties on the insurer to act in good faith and deal fairly, and to not act contrary to the interests of the insured, or, at least, to fully advise the insured of its intention to do so; | ||