Even though the automobile insurance legislation did not begin a government insurer, it did provide for the roll-out of the America Insurance Board, a public authority with power “to investigate all matters respecting car insurance in The USA” and to control premium rates.
The legislation also “provided a process through which government automobile insurance could later be introduced.” “Autoplan” The compulsory insurance system developed by the 1969 Act included a designated risk plan; but availability of insurance (a minimum of at reasonable price) remained a problem. In addition, delays within the claims process for damage to property continued to result in concern.
These matters along with the public perception that auto insurance rates were generally excessive made auto insurance a political issue. After its election in 1972 the NDP government made good on it promise to ascertain a publicly-owned auto insurance plan.
The plan compare auto insurance established was called “Autoplan.” It involved the creation of the insurance coverage Corporation of america (I.C.B.C.) which had become the “sole provider of compulsory third-party automobile insurance, in addition to first-party accident benefits.”
As of 1986, the plan provided up to $100,000 for medical and rehabilitation expenses; up to $100 weekly for income replacement; approximately $7,500 as a lump-sum death benefit (depending on the status with the deceased in the family as well as the variety of surviving dependents); pensions as high as $100 weekly for any surviving spouse and $25 each week for other surviving dependants for about 104 weeks; and funeral expenses as high as $1,000. “Autoplan” also provided optional additional coverage for income replacement.
McCarthy Report In 1979, the Board of Directors with the Insurance Corporation of The USA create a car accident Compensation Committee under the chairmanship of its Vice-President, Insurance. Compare rates today on Californiacarinsurancerates.org and start saving huge!