The Insurance Corporation of British Columbia is a government insurance company that has been given the monopoly on all third party liability car insurance in British Columbia. ICBC also has the power to licence, collect violation ticket fines, and promote safe driving.
In British Columbia a person injured in a car accident has the right to sue the driver for compensation and retain an ICBC claims lawyer to represent their best interests. Necessary compensation usually, but not always, comes through third party liability insurance coverage held by the negligent driver.
If the negligent driver is from another province or state, the liability insurance will not be provided through ICBC, although you may still be entitled to benefits from ICBC, and another insurance company may also be involved.
For accidents after April 1, 2019 ICBC may tell you that your claim for pain and suffering is capped as a “minor injury”.
ICBC claims are paid because the corporation is required to provide medical and disability benefits to any insured involved in a collision, regardless of fault. This coverage is often referred to as “No Fault Benefits”. ICBC accident benefit insurance scheme is controlled and administered by the Corporation.