Accident Benefits Category Archives

Optional Benefits Are Now Less “Optional” Than Ever

Simulated Smartphone Alert Graphic: Dangerously Low Coverage

If you didn’t know that your automobile insurance benefits were reduced on June 1st, you are not alone. A recent survey conducted by the Insurance Brokers Association of Ontario (“IBAO”) revealed that only 42% of consumers had heard about the changes and less than 20% could actually identify what those changes were. All Ontario drivers need to be familiar with these reductions to auto insurance coverage …

Give and Take: Auto Insurance Premiums Drop at Expense of Ontario’s Injured and Vulnerable

Signs at Rally for Fair Insurance Benefits

OTLA President-Elect Adam Wagman recently appeared with Jerry Agar on Newstalk 1010, Scott Thompson of AM900 CHML, and also with Tom Hayes on Global News to speak about concerns with Ontario’s new auto insurance rules. On June 1, 2016, in an effort to reduce insurance premiums in Ontario, the Provincial government has mandated changes to accident benefits. These changes include a $1 million dollar reduction …

From FSCO to the LAT: Procedural Changes to Accident Benefits Disputes

signpost reads LAT in front of FSCO offices in Toronto

  The 2015 Ontario budget announced on April 23, 2015 brings sweeping changes to the auto insurance accident benefits system. Catastrophic and non-Catastrophic funding limits were slashed, and drastic revisions to the definition of “catastrophic impairment” were proposed. There will be a huge procedural change as well; disputes under the Statutory Accident Benefits Schedule (“SABS”) will no longer be subject to the jurisdiction of the Financial Services …

Transition to the LAT

The LAT is set to begin receiving applications for SABS disputes on April 1. OTLA is addressing significant concerns about the transition, specifically an insured’s ability to access the new dispute resolution process.

Why you need optional car insurance benefits

a hand signs a form with a car in the background

Posted with permission from gironeslawyers.com Several changes to the Ontario Accident Benefits regime in recent years have meant that you do need many of the optional benefits offered by your car insurance company. Because these optional increases cost more money, many people opt not to purchase them. Unfortunately, it is only after they are injured in a car accident that people realize why the optional benefits are …

Profits Soar for Ontario Auto Insurance Companies

Last week, an updated study from York University School of Business Professors Fred Lazar and Eli Prisman was released that reveals consumers likely overpaid $1.5 billion in the last two years for auto insurance. This includes overpayments of $700 million (or about $100 for each insurance policy) in 2014 on top of the $840 million ($120 per policy) in 2013. This study is further proof …