ICBC's no-fault auto insurance program rolls out
The British Columbia Insurance Company (ICBC) will start its extended car insurance program for maintenance, known as "Fully Comprehensive" insurance, starting May 1st. The new insurance program can save drivers up to $ 400 a year, ICBC said, as the program aims to address the problem of costly litigation. "A big part of the savings in the new system is that we won't be spending hundreds of millions of dollars on litigation," said Nicholas Jimenez, President and CEO of ICBC. The injured party in an accident also loses their right to file a claim for damages and loss of wages under the new system through no fault of their own. At the same time, the liable party can receive the same coverage and benefits as the other party. Some industry experts are not particular...