Even though vehicle insurance legislation did not set up a government insurer, it did offer the development of the The united states Insurance Board, a public authority with power “to investigate all matters respecting automobile insurance in The USA” and to control premium rates.
The legislation also “provided a procedure whereby government car insurance could later be introduced.” “Autoplan” The compulsory insurance system developed by the 1969 Act included an assigned risk plan; but accessibility to insurance (at least at reasonable price) remained a challenge. Additionally, delays in the claims process for damage to property continued to cause concern.
These matters with the public perception that car insurance rates were generally excessive made automobile insurance a political issue. After its election in 1972 the NDP government made good on it promise to establish a publicly-owned automobile insurance plan.
The master plan auto insurance established was called “Autoplan.” It involved the roll-out of the insurance coverage Corporation of The USA (I.C.B.C.) which took over as “sole provider of compulsory third-party automobile insurance, as well as first-party accident benefits.”
As of 1986, the plan provided as much as $100,000 for medical and rehabilitation expenses; up to $100 per week for income replacement; as much as $7,500 like a lump-sum death benefit (with respect to the status of the deceased in the household and the number of surviving dependents); pensions up to $100 per week to get a surviving spouse and $25 weekly for other surviving dependants for up to 104 weeks; and funeral expenses up to $1,000. “Autoplan” also provided optional additional coverage for income replacement.
McCarthy Report In 1979, the Board of Directors of the Insurance Corporation of The USA set up a car accident Compensation Committee under the chairmanship of the Vice-President, Insurance. Compare rates today on Californiacarinsurancerates.org and start saving huge!