No fault insurance for auto accidents in British Columbia. Recent legislative changes in British Columbia have introduced a no fault model for auto liability claims arising from motor vehicle accidents that occur in British Columbia on or after May 1, 2021. The changes have significant implications for out-of-province auto insurers.. Five things to know about the ICBC overhaul. 1. B.C. is moving to a full "no-fault" insurance model, which means in most cases you won't be engaged in a lawsuit after a crash to win damages.
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Under the new no-fault system, only those injuries meeting ICBC's definition of catastrophically injured will be compensated. These would be limited to things like significant brain injuries and quadriplegia. The maximum compensation will be approximately $265,000, down from the maximum of $390,000. This new compensation threshold will not be.. The government shift to no-fault insurance is an effort to move away from a litigation-based insurance model. ICBC estimates that the changes will save $1.5 billion in legal fees, allowing that money to be put toward rate cuts, more benefits, and faster claims processing. However, the shift also means that accident victims will only receive.
