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Insurance Business | 12 Mar 2018, 05:13 AM Agree 0
Insurer is entangled in a legal battle over the claims and repairs
  • | 12 Mar 2018, 10:26 AM Agree 0
    If the value of the car was only $696,061 and ICBC paid out $789,375 and repairs are around $900,000, the vehicle should have been written off.
  • Normand Haas | 12 Mar 2018, 11:21 AM Agree 0
    ICBC is completely incapable of managing insurance which should be left in the care of private insurers. At best it should consider a similar system to the Province of Quebec as a middle ground for consideration and review. As for this F40 Ferrari fiasco...current market value on this highly sought after collector piece in 2015 was $1.4m which has new currently settled at $1.2m 2016-2017. This shows how disconnected ICBC is from the reality of insurance!
  • Diane | 12 Mar 2018, 03:19 PM Agree 0
    The insured and the broker knew that ICBC was never going to be the right source. There are other insurers to provide the insurance beyond the regular ICBC underlying policy.
  • Tom | 17 Mar 2018, 06:28 PM Agree 0
    If ICBC rated the risk properly 👌

    It appears they maybe dealing with a litigious insured.
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