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Born to be WILD
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Discussion Starter #1
For those of you who's been there before;

A friend of mine has his bike stolen over 30 days ago and now ICBC sends out a form to him to get it notarized, stating that "he truly had his bike stolen and this is not a fraud".ICBC told him that this is normal policy and everyone has to do it.

Is this a normal routine thing that ICBC does with evryone in this situation?


Thanks in advance...
 

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Sounds like a Statutory Declaration and Proof of Loss.

Standard insurance industry practice, although not used in every single circumstance.

Nothing sinister going on there.
 

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Thanks!
I guess hanging around insurance types for the past 25 years has been handy. For this anyway, given an insurance career can be as exciting as watching mold develope......:laughing
 

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Fuelled by rice
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some ppl have it sent to them. When my bike was stolen I didn't have to do that. My buddy did.
 

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X-nasty
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2,287 Posts
Tmustang said:
For those of you who's been there before;

A friend of mine has his bike stolen over 30 days ago and now ICBC sends out a form to him to get it notarized, stating that "he truly had his bike stolen and this is not a fraud".ICBC told him that this is normal policy and everyone has to do it.

Is this a normal routine thing that ICBC does with evryone in this situation?


Thanks in advance...
This the way they do it now. Before, they used to just say up fron that you stole your truck/car/bike yourself and they aren't paying.
 

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the company puts themselves on a time limit with the declaration. you hand it in, and the meter is running.
From the "Regulations."
Time of payment
144 Any insurance money payable by the corporation under this Division shall be paid,
(a) where the corporation waives a statutory declaration, within 30 days after the declaration is waived,
(b) where an award is made under section 62, within 15 days after the award is made, and
(c) in any other case, within 60 days after the corporation receives a proof of loss or statutory declaration from the insured.
 

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Born to be WILD
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Discussion Starter #9
Thank you very much...you guys rock:rockon
 
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