Client Update: Automobile Tort Recovery Limitations Regulations Repealed
As of August 1, 2015, section 4 of the Nova Scotia Automobile Tort Recovery Limitations Regulations was repealed.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that the rationale for the discount rate set in insurance regulation was no longer relevant and that it should be repealed”.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
Effective July 1, 2020, the North American Free Trade Agreement (“NAFTA”) was officially replaced by the Canada-United States-Mexico Agreement (“CUSMA”). Like NAFTA, CUSMA contains provisions for the temporary entry of foreign “business persons” to Canada…
Read MoreKillian McParland and Jennifer Thompson In a decision released earlier today, Uber Technologies Inc. v. Heller¹, the Supreme Court of Canada determined that an agreement requiring Uber drivers to go to arbitration instead of suing…
Read MoreStephanie Stapleford, Mike Carver, Matthew Craig, Kimberly MacLachlan and Christine Pound Part 2: Electronically-Signed Share Certificates The COVID-19 crisis, and federal, provincial and local government directives for individuals to continue complying with social distancing policies…
Read MoreJoe Thorne and Kara Harrington Vexatious litigants are a category of persons who misuse the court process through repeated improper, abusive, and/or meritless proceedings. Vexatious litigants may take many forms, but ultimately they are a…
Read MoreWe are pleased to present the sixth issue of Discovery, our very own legal publication targeted to educational institutions in Atlantic Canada. During these unprecedented times, universities and colleges are encountering unique challenges of working…
Read MoreTwila Reid and John Samms On Friday, June 12, 2020, the Government of Newfoundland and Labrador announced it has extended the time period under section 50 of the Labour Standards Act (“the Act”) that converts…
Read MoreKathleen Leighton Those who have vacation homes or cottages in Canada may be starting to form their summer plans as temperatures begin to rise. However, the ongoing pandemic has resulted in a host of…
Read More*Flowchart below last updated June 2, 2020 (Originally published April 14, 2020) Dante Manna With the passing of Bill C-14, the COVID-19 Emergency Response Act, No. 2 on April 11, 2020, the federal government has…
Read MoreBurtley Francis Recently, the Government published for public comment draft legislation referred to as the Time Limits and Other Periods Act (COVID-19). The underlying purpose of the draft legislation, which was published on May 20,…
Read MoreMark Tector and Katharine Mack The province of Nova Scotia announced today that most sectors of the economy may begin to reopen. Provincial grant funding was also announced to help businesses open safely, as well as…
Read More