Last updated 2024-07-11

Lien search policy

All confirmed total losses must have a lien search ordered or conducted within 30 days of the settlement payment.

Applicability

ICBC pays total loss settlements jointly to the registered owner (RO) and any one or more lienholders as per Lienholders financial interest in total loss settlements.

A subsequent lien search is required when paying a settlement over 30 days since the previous lien search was ordered or conducted.

Applicable legislation

In the Basic Vehicle Damage Coverage Regulation
  • Section 1 Definitions for regulation
  • Section 23 Payment to lien holder or repairer
  • Section 24 Right of lien holder to submit statutory declaration
In the ICBC Autoplan Optional Policy
  • Section 5.20 Right of lienholder to submit statutory declaration
  • Section 5.21 Payment to lienholder or repairer
Parent topic: Total losses and salvage