No fault does not mean that the victim party does not get a payment to help cover damage and injury , in effect " having no insurance "
What "no fault " comes down to is that non-BC residents from the USA or other provinces need to have liability insurance that is recognized in BC and then if one has an accident not their fault , the insurance companies between them arrange restitution to the innocent party . The idea is to cut out the lawyer class opening up lawsuits that will clog the courts and waste everybody's time .
Ontario too has a no-fault sort of setup . In 2001 I was involved in a crash on a motorcycle when a woman ignored a stop sign to make a left turn across my path .I was lucky to make a glancing blow to the rear corner of the car and went flying resulting in only bruises and a scrape . Still , the bike was written off ,total loss .My insurance paid me replacement value and then dealt with the other company to recover their money . I was not involved in any litigation , no lawyers and fees to deal with , no time wasted at courts .
I suspect that the US companies that sell insurance to people who will travel to BC and Canada in general will be aware of these things, and able to work it out . It is the drivers/riders who still insist on not buying insurance who will find the bigger problems ,which they would always have had before . And lawyers might complain at a decrease in business .

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http://advrider.com/index.php?thread....207964/page-5 then scroll down to post #93