Bruce Bentley

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...

According to the proposed bill, the protection against personal injury and the involuntary provision would be discontinued. Instead, drivers must carry at least $ 25,000 for one person injury or death and $ 50,000 for two person injury or death. Insurance for the person who caused the accident would pay off for claims. Legislators believe the end of fully comprehensive insurance is needed to control Florida's runaway auto insurance rates. "Florida is inconsistent with almost every state, and yet your auto insurance prices and premiums continue to rise," said R-Vero Beach representative Erin Grall. "I think it's our job to make sure that people are adequately covered." Florida's no-fault auto insurance requires drivers to have personal protection of at least $ 10,000. The cover pays the insured person for all medical and funeral expenses he may incur, regardless of who was liable during a collision incident. However, the $ 10,000 minimum hasn...