BC Liberals Promise Hybrid System of ICBC and Private Insurance With Choice of Coverage and Rights
The BC NDP and Green Party voted in mandatory no-fault insurance. In short this means that later next year, if you or your loved ones are struck by a careless driver and injured you have no right to sue them for your full damages. Instead you are at the mercy of ICBC to administer a limited selection of ‘no-fault’ benefits and nothing more. If ICBC does not administer these fairly you do not have the right to take them to court instead being limited to a provincially created tribunal for dispute resolution.
Today the BC Liberals announced their election platform for ICBC noting they will create a hybrid market with both ICBC and private insurers competing for your business. Their platform apparently will allow ICBC to corner the no-fault market with British Columbians having the choice to buy such limited coverage with ICBC or to buy ‘tort’ coverage with private insurers giving them the right to claim full damages from at fault motorists.
The Liberals’ press release provided the following details:
BC Liberals will open up the market to give British Columbians true choice in auto insurance by ending the ICBC monopoly and letting drivers pick the best rate available to save money.
A BC Liberal Government will:
- End the ICBC monopoly and give drivers the choice to purchase vehicle damage coverage (collision, comprehensive, specified perils and liability insurance for property damage) direct from the private market.
- Give drivers the choice to purchase the best rate for accident benefits coverage for bodily harm and injury from either the private market (tort system) or ICBC (no-fault system).
- Give all new drivers credit for two years of driving experience, increasing to four years if a new driver has completed driver education. This will result in significantly lower premiums for new drivers with clean records who demonstrate safe driving habits and will be available to both new drivers with their own policies and parents with children listed as occasional drivers.
- Return excessive premiums charged by ICBC during 2020 to their rightful owners- the drivers of BC – this should have been done months ago, as other provinces have already done, but the NDP want to bribe you with your own money to get your votes in this election. Don’t let the NDP take your money and then try to buy your votes to get it back.