Client Update: Automobile Tort Recovery Limitations Regulations Repealed
As of August 1, 2015, section 4 of the Nova Scotia Automobile Tort Recovery Limitations Regulations was repealed.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that the rationale for the discount rate set in insurance regulation was no longer relevant and that it should be repealed”.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
Chad Sullivan and Kathleen Nash In a recent decision from the New Brunswick Court of Appeal, Abrams v RTO Asset Management, 2020 NBCA 57, the court clarified the procedure for seeking summary judgment and addresses…
Read MoreKathleen Leighton In Canada, foreign nationals have various options to obtain either “employer-specific” or “open” work permits – we discuss this distinction in greater detail here. Open work permits can be obtained by individuals in…
Read MoreGiles Ayers and Joe Thorne Introduction Balancing a municipal budget has always been a challenging task in Newfoundland and Labrador, and this is particularly true in a year of extreme weather events and a global…
Read MoreWe are pleased to present the third installment of Beyond the border, a publication aimed at providing the latest information to clients about new programs and other immigration-related information that may be pertinent to employers of…
Read MoreHarold M. Smith, QC and G. John Samms Effective Monday, August 24, 2020, an order directing the mandatory wearing of masks, pursuant to the Public Health and Protection Act and the Special Measures Orders made…
Read MoreGerald McMackin, QC and Christopher Marr, TEP New Brunswick joined the rest of Canada in enacting legislation that deals solely with powers of attorney when the Enduring Powers of Attorney Act (“Act”) came into force…
Read MoreMurray Murphy, QC, CPHR and Kate Jurgens Three new bills have been introduced in the most recent sitting of the Prince Edward Island legislature. In the employment setting Bill 38 aims to address the prevalence…
Read MoreJennifer Taylor The Supreme Court of Canada has finally put an end to the “waiver of tort” debate. After years of uncertainty, a majority of the Court confirmed in Atlantic Lottery Corp Inc…
Read MoreStephen Penney and Justin Hewitt As municipalities begin opening up recreational facilities in Alert Level 2 of the COVID-19 public health emergency implemented by the Provincial Government, Municipalities Newfoundland and Labrador has been receiving inquiries…
Read MoreThere is no obligation upon a municipality to reduce a business tax due to limited operations secondary to the COVID-19 pandemic. A municipality does, however, have the discretion to offer business tax relief. If a…
Read More