What Are The Consequences Of A Breach Of Icbc Policy

As an insured, it is imperative to follow the rules and regulations as directed by the ICBC

. In case an insured is found breaking the rules or falsifying events, he is subject to breach of policy which results in many consequences. According to ICBC claims lawyer, Surrey it is important to not overlap the factors that are responsible for breach of policy as ICBC holds the rights to sue the breached insured causing a lot of loss to the individual.

Consequences of a Breach

Loss of the right for claiming Part 7 benefits

Accident related repairs are not paid by ICBC

ICBC does not represent the breached insured in the lawsuit caused due to collision

ICBC does not indemnify for any court judgment against the breached insured nor does it pay for the settlement for the negligence.

It is evident that an individual when breaches the policy, not only does he stand to lose the insurance benefits, but is also required to pay for settlements, court judgments and reimbursements to the injured third party.

When a motorist is involved in a collision, but has caused a breach in the policy, ICBC has the power to intervene and settle the lawsuit and tort claims under the rights provided to them by section 76 and 77 of Insurance (Vehicle) act. After the settlement, ICBC recovers the amount from the breached motorist, only after a due notice is provided.

Furthermore even if the breached insured disputes fault for the accident, ICBC has the rights to recover the settlement from the insured. This fact has been highlighted via many cases concerning ICBC and the breached motorist that have been settled in the court, with the court ruling in favor of ICBC. Under the Section 21(6) of the Act (section 77(2) of the New Act) ICBC is provided with the right to recover settlement amount or any other amount paid on behalf of the motorist, the motorist is subject to reimbursement to the corporation, whether the insured chooses to dispute the fault or not.

According to the law, ICBC, who is a principal auto insurance provider in the region of Canada, holds many rights due to which breached motorist not only incurs damages but ends up paying for all the damages. It is therefore advisable to consult an ICBC claims lawyer in Surrey immediately after being involved in a collision, in order to weigh all the option and to determine whether the motorist has breached the policy or not. An experienced claims lawyer will be able to deal with ICBC and determine whether the insured is liable for paying ICBC for the court settlements after the collision.

Consequences of breach of policy are very severe as it can cause the insured to lose a lot of their money in repaying ICBC as well as repairing the damage done to their vehicle or property. It is thus advisable to stay vigilant and not breach any ICBC policies in order to enjoy the benefits of insurance fully.

by: Stella Richard

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