Client Update: Automobile Tort Recovery Limitations Regulations Repealed
As of August 1, 2015, section 4 of the Nova Scotia Automobile Tort Recovery Limitations Regulations was repealed. This section previously set the discount rate for future losses in automobile tort claims at 3.5%.
The repeal was publicized in a bulletin that stated “it was determined that the rationale for the discount rate set in insurance regulation was no longer relevant and that it should be repealed”.
There is no indication at this time that a new regulation will be passed setting a new discount rate.
It is unclear whether the discount rate of 3.5% will continue to apply to accidents that occurred prior to the August 1, 2015 repeal of the regulation.
Certainly, for accidents occurring after August 1, 2015, discount rates will have to be determined using either Civil Procedure Rule 70.06, which prescribes a discount rate of 2.5%, or by using actuarial evidence in any given case.
Further information on this amendment can be found at the websites below, or by contacting the insurance defence partners of Stewart McKelvey:
Archive
Richard Jordan Is a worker under a contract “of” service or contract “for” service? The former means a worker is an employee whereas the latter means a worker is an independent contractor. The answer to…
Read MoreKevin Landry and William Wojcik In September 2020 the Supreme Court of Canada heard Reference re Greenhouse Gas Pollution Pricing Act, 2021 SCC 11, a case featuring appeals from Ontario, Saskatchewan, and Alberta with respect to…
Read MoreChristopher Marr, TEP and David Slipp Effective March 1, 2021 in all provinces of Canada, other than Ontario and Quebec (to be effective there on July 1, 2021), securities laws related to the distribution of…
Read MoreKevin Landry and Emily Murray On March 8, 2021, Health Canada released draft guidance on personal production of cannabis for medical purposes (“Guidance Document”). At present, the Guidance Document is being circulated for public comment for…
Read MoreJennifer Taylor The Supreme Court of Nova Scotia has finally provided clarity on the limitation period for third party claims, in Sears v Top O’ the Mountain Apartments Limited, 2021 NSSC 80. This is…
Read MoreBrendan Sheridan Canada has continually claimed to be one of the countries with the toughest COVID-19 related travel and quarantine requirements. In response to the new COVID-19 variants emerging in the UK and South Africa,…
Read MoreDante Manna As of today, Newfoundland and Labrador has joined several other jurisdictions with financial hardship unlocking provisions. While the new provisions do not allow direct unlocking from pension plans, and unlocking is not available…
Read MoreNancy Rubin, QC Nova Scotia has taken a big step forward in recognizing the tort of publication of private facts. The case, Racki v Racki, 2021 NSSC 46 comes hot on the heels of Ontario’s…
Read MoreKathleen Leighton Canada is committed to developing Francophone minority communities in the country (outside of Quebec). In furtherance of this goal, there are a number of immigration initiatives in place to attract French speakers. By…
Read MoreAndrew Burke and Divya Subramanian The year 2020 was nothing short of unusual. With COVID-19 impacting every aspect of business and life, shareholder meetings also transitioned to a virtual medium. For more on how the…
Read More