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NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

Clarity on prejudgment interest but not deductible

Thursday, February 02, 2017 @ 7:00 PM | By Darcy Merkur

The debate over whether ongoing Ontario personal injury automobile claims are impacted by recent legislative amendments received some clarity recently, at least when it comes to the issue of prejudgment interest. However, the dispute over the application of annually increasing statutory deductibles to ongoing personal injury automobile claims remains.

Ontarians involved in accidents that predate Jan. 1, 2015, will no longer have to entertain the argument that they are caught by the prejudgment interest rate reduction set out in s. 258.3(8.1) of the Insurance Act....