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Ontario’s two year limitation period often becomes a trap for unwary policy holders who suffer a property loss. It is not uncommon to see claims drag on through the adjusting process, with interim payments being made, only to have insurers deny some or all of the claim more than two years after the loss. When the insured sues, insurers then claim the action is statute barred — a position our courts have accepted in a number of cases. A recent decision by Justice Paul Perell provides the insured with some relief from this trap. In Nasr Hospitality Services Inc. v. Intact Insurance (“Nasr“),¹ Justice Perell confirmed that even though your claim may arise on the date of loss, it is not necessarily fully “discovered” until a later date.

http://www.mondaq.com/canada/x/611568/Insurance/Ontario+Court+Provides+Appropriate+Relief+Against+Statutory+Limitation+For+Insurance+Claims