ICBC No-fault Announcement Feb 6/2020

Discussion in 'Canada' started by ommoran, Feb 6, 2020.

  1. ommoran

    ommoran Experienced Newbie

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    Hello everyone,

    I thought I would start a thread about today's announcements on ICBC's move to No-Fault insurance (no matter what the government wants to call it) starting in May. They in fact studiously avoided the words "no fault", as it seems to have a very negative connotation in BC, frankly because I think it is misunderstood. I know I have issues with the government hand in the pocket of ICBC repeatedly over the years, but that sort of political stuff isn't the point of this announcement (or my post).

    They did talk explicitly about a few things. One, they hammered pretty hard on the plaintiff bar, vilifying them and accusing them for increased costs - and, in part, they are correct. I will want to see what the bill says, but it looks like the right to sue has been entirely eliminated except in very rare circumstances. That's a very high bar - I've worked in No-Fault jurisdictions as a claims adjuster before, and the bar was certainly quite high, but no right to sue (as it seems here) is extreme. I may be wrong about that, time will tell.

    The increased benefits is a very good thing in exchange. Weekly indemnity for the time you miss from work, paying your therapy bills - all to be expected under such a system. A limit of 7.5M per accident is actually also very high (to go with the high bar for a lawsuit) and should be able to help even the most seriously injured.

    What I am interested in seeing - and no one talked about - is cost reduction due to the efficiency of resolving liability. True no-fault systems mean that one adjuster doesn't call another adjuster to hash out who is at fault in a simple rear-ender. There is a chart which outlines liability in these cases, and you get faster service and repairs. I think this will be very interesting as the cost savings are huge.

    Ready? And this is where the ICBC Bashers will start! GO!
    #1
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  2. vince82

    vince82 Been here awhile

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    I read a couple articles about it, sounds like good news. I am paying pretty little compared to my fellow Vancouverites (less than 750/year with icbc + beacon), but if it drops even less, great!
    #2
  3. filterwrench

    filterwrench Been here awhile

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    ICBC seems to have no choice but to attempt this huge change or else they will cease to exist. If things stay as they are rates need to increase again by a third that would surely put the corporations monopoly at risk as the cost of insurance has become unsustainable as is.
    #3
  4. shuswap1

    shuswap1 Long timer

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    I seriously question the value of ICBC to BC residents. They can't seem to get their act together and I am tired of paying more than double for insurance than I would in AB.......and don't get me started on the current .58/litre gas difference between here and Edmonton.
    It's a well established truism that monopolies fosters greed and waste.
    #4
  5. MGV8

    MGV8 Long timer Supporter

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    I try to maintain two bikes with plates on them and possibly rotate in a third just so it gets ridden. After last years 2500.00 with the Beacon Policy I might have to seriously consider one at a time and just pay all the transfer fees. Then add in the wife's car, the camper truck, two trailers, the shop truck and the Shop Garage policy. ICBC does rather well from my pocket. :dirtdog
    #5
  6. vince82

    vince82 Been here awhile

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    Agree, they should get expensive petrol too. I am tired of seeing my tax money spent to subsidize AB oil so they can keep their prices down.
    (just trolling, but I do support carbon tax)
    #6
  7. shuswap1

    shuswap1 Long timer

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    I'm in a similar boat. No claims in the last....oh 47 years, I guess, and still raped by ICBC.
    #7
  8. Robin R

    Robin R Adventurer

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    OK, perhaps someone could clarify a point for me. I can only afford to put third party coverage on my motorcycle, currently if I'm involved in an accident that is the fault of the other party, I'm assuming their insurance would cover damage to my machine, and hopefully my person as well. So with no fault insurance will my only coverage be what I have bought to cover my motorcycle and myself. If that is the case, as I can't afford to do that am I basically not covered.
    #8
  9. vince82

    vince82 Been here awhile

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    No. The other party pays for your damages if they are at fault, but you cannot sue them for extra money
    #9
  10. Robin R

    Robin R Adventurer

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    If that is the case I am somewhat relieved, thanks.
    #10
  11. drrod1

    drrod1 Long timer

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    IIRC, In Sask (also no fault) SGIO (the government insurance there) used the fact that there was usually higher medical costs associated with motorcycles and used that as an excuse to greatly increase rates on bikes.
    A friend there pays more than 5X the insurance/year for his RT than I do for my Blackbird in Alberta. with a similar driving record.
    Maybe someone from there can comment more.
    #11
  12. manybike

    manybike Omnipresent Supporter

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    Then buy your oil from someone else.
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  13. vince82

    vince82 Been here awhile

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    I don't get your point, we are in a democracy, things are what they are because we collectively made them as such.
    #13
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  14. manybike

    manybike Omnipresent Supporter

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    Actually Troll..I do get the point. What is the subject in the OP ? What did your comment have to do with the subject matter ? Go find somewhere else to troll.
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  15. vince82

    vince82 Been here awhile

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    I am here to contribute to the discussion, not just to troll :) I replied to your point only because I care about climate change measures.
    Will avoid further OT.
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  16. H96669

    H96669 A proud pragmatist.

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    If that means that everyone has the same liability I am all for that! Getting pretty fucking tired of looking at the graphs in the agent's office AND paying extra to increase my liability coverage.So $300,000 is minimum....I pay up to $2mil and according to the graphs and recommendation of the agents it still isn't enough.:evilYeah right!:baldy About time every driver in BC is on the same level on liability!

    Lawyers are circling the wagon/gravy train already.....will be fun to watch!:jack
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  17. mayday

    mayday Stromer

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    Reading through the available details (limited at this point), 2 points;
    - you will still be able to sue if the other party has been convicted of a criminal act - dangerous driving, racing, dui etc - otherwise set compensation amounts
    - "fault" will still be determined to calculate (i.e increase) the offending driver

    As someone with lots of years of no interaction with ICBC ( i.e a defensive driver) i actually see this as a good thing. Once you get past the idea some crash prone dispshit is going to "get away" with bad driving, it's reasonable. IMHO too many people viewed a car crash as some sort of lottery that they just "won" and were going to milk it for all the could.
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  18. shuswap1

    shuswap1 Long timer

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    I think you mean the legal profession, it really was THEIR lottery win every time an accident occurred.
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  19. mayday

    mayday Stromer

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    true, but it takes 2 to tango, and if people weren't asking for their services.....
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  20. shuswap1

    shuswap1 Long timer

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    My recollection is that legal 'services' add about $300 per year to the average ICBC ins premium. There isn't much 'right' about ICBC and that is a good place to start. Eby is a lawyer, wonder how welcome he'll be at their next gathering.
    #20
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