TORONTO—Workplace Safety and Insurance Board (WSIB) president and CEO David Marshall has been appointed as advisor to the minister of finance on auto insurance and pensions effective Feb. 1, 2016.
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Author Archives: Admin4
David Marshall to leave WSIB
Focus: Ontario courts differ on prejudgment interest
Until recently, the Courts of Justice Act allowed for prejudgment interest and defined it as the bank rate with the exception of non-pecuniary losses determined by the rules of the court. The Rules of Civil Procedure set the interest rate for non-pecuniary damages in motor vehicle cases at five per cent. Among the amendments made to the Insurance Act earlier this year was the provision that the Courts of Justice Act doesn’t apply to the calculation of prejudgment interest for damages for non-pecuniary losses related to injury or death arising from an automobile accident.
Breaking News: IBC responds to scathing auto insurance report
The IBC has issued a “fact check” on the newest Ontario Trial Lawyers Association (OTLA) report, with spokesman Ralph Palumbo declaring that the study “isn’t fair, it isn’t serious and it isn’t factual.”
The study, an updated analysis of Ontario’s auto insurance industry, found that the province’s consumers “likely” overpaid on their premiums by $1.5 billion in the past two years, amounting to $100 per policy in 2014 and $120 per policy in 2013.
Ontario car insurance rates drop, but far less than promised
The latest figures from the Financial Services Commission of Ontario, released Thursday, show rates fell half a point in the quarter ended Sept. 30, to 6.96 per cent for the province’s 9.4 million drivers.
Auto Insurance Rates for the Third Quarter of 2015
This notice provides an overview of the private passenger automobile insurance rate changes approved or ordered by the Financial Services Commission of Ontario (FSCO) for filings reviewed in the third quarter of 2015. The number of filings reviewed by FSCO and the overall average rate change for the Ontario market may vary from quarter to quarter, based on updated information about claims costs, market conditions and other financial factors and the resulting impact that these factors have on the adequacy of an insurance company’s current rates.
Ontarians pay more than double in car insurance
The price of car insurance is always a hot topic in this province. It costs Ontarians more than double to drive here, than anywhere else in Canada. New figures released today show rates have fallen marginally, less than 1%… and now an independent report found the auto insurance industry is raking in large government guaranteed profits. As Kate Carnegie reports, the liberals admitted today they have more work to do to lower the rates for drivers.
http://www.chch.com/ontarians-
Liberal auto insurance promise rings hollow says MPP
News Release: QUEEN’S PARK – After more than two years, the Wynne Liberals are still nowhere close to meeting their promise of rolling back car insurance rates by 15 per cent, Ontario PC Finance Critic Vic Fedeli said today.
https://www.baytoday.ca/more-
IBC Fact Check: Two wrong studies certainly don’t make a right
TORONTO, Oct. 15, 2015 /CNW/ – Today, the Ontario Trial Lawyers Association (OTLA) released an updated self-funded “study” about auto insurance companies and rates. According to Ralph Palumbo, IBC spokesman, “This trial lawyer study isn’t fair, it isn’t serious, and it isn’t factual.”
Legal Matters – How to put a price on pain
On January 19th, 1978 three tragic cases all rose to the Supreme Court of Canada, where nine judges decided how Canadian law would compensate the injured for pain and suffering. In Andrews v. Grand and Toy, Jim Andrews was an 18-year-old who was rendered quadriplegic in a car accident. In Thornton v School District 57, Gary Thorton was an 18-year-old who was rendered quadriplegic in a gymnastics accident at school. In Arnold v. Teno, Diane Teno was a four-and-a-half-year-old girl who was rendered partially paralyzed and severely brain injured after stepping into traffic from behind an ice cream truck.
http://www.yorkregion.com/