Among a number of significant changes to the current accident benefits regime in Ontario, the Financial Services Commission of Ontario is considering the following changes to the tort regime (suing the at fault driver) in Ontario which would provide greater access and a more equitable and fair system of compensation and rehabilitation for victims of auto accidents:
Release of 5 Year Review of Auto Insurance by FSCO
The five year review of auto insurance was released today by the Superintendent of FSCO. The report contains 39 recommendations for the reform of auto insurance, focused primarily on achieving savings from accident benefits.
Significantly for innocent accident victims, recommendation 31 urges the government to consider easing tort restrictions as part of the reform package. The Superintendent’s suggestions include:
1. Reducing the deductible on non-pecuniary general damages from $30,000 to $20,000;
2. Reducing the deductible on Family Law Act claims from $15,000 to $10,000:
3. Eliminating the $15,000 deductible on fatal accident claims; and
4. Revoking the regulation defining the Verbal Threshold.
My team and I will continue to watch closely the development and implementation of the proposed changes and continue to lobby for greater justice for innocent victims’ of car accidents to receive fair compensation for their losses.
Tags: Accident Benefits Insurance Claims, Add new tag, Auto Insurance, Car Insurance, FSCO
#1 by harold schlesinger on April 13th, 2009 - 4:53 pm
Dear Mr Hollingsworth
I am an independent adjuster in Toronto so we have never met. I want to compliment you on the excellent website that you have for potential clients. It’s a lot better than a lot of the sites that your competiors have.
Harold Schlesinger