The Government of British Columbia is introducing changes to legislation aimed at “reversing ICBC’s skyrocketing legal and administrative costs, and making insurance rates more affordable for B.C. drivers,” Attorney General David Eby announced today.
If approved by the legislature, the amendments to the Insurance (Vehicle) Act (IVA) and the Civil Resolution Tribunal Act (CRTA) will simplify dispute resolution processes for cases under $50,000, allowing them to be resolved in as little as 90 days.
Currently, these disputes can last two to three years in B.C. Supreme Court.
Increased Benefits & Limits On Payouts
These changes also establish the framework for the first major improvements in accident benefits in more than 25 years, and will dramatically increase the care available for anyone injured in a crash, regardless of fault.
It will also introduce a limit of $5,500 on pain and suffering payouts for minor injury claims.
According to the release, this limit will allow ICBC to redirect resources to increase benefits for lost pay and medical rehabilitation for all people injured in accidents.
“Today’s legislation is about doing what’s best for B.C. drivers – both in what they pay for insurance and in making sure they get the best coverage if they’re injured,” said Eby.
“For years, B.C. drivers have had to pay more and more simply to cover the spiralling legal and administrative costs at ICBC. We can’t right the past – but we can put ICBC back on track to deliver more affordable rates and better coverage for drivers moving forward.”
If approved, the majority of amendments to both acts would become effective April 1, 2019.