Client Update: Automobile Tort Recovery Limitations Regulations Repealed
As of August 1, 2015, section 4 of the Nova Scotia Automobile Tort Recovery Limitations Regulations was repealed.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that the rationale for the discount rate set in insurance regulation was no longer relevant and that it should be repealed”.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
In Wood v. Wood et al, 2013 PESC 11, a motion pursuant to Rule 7.08 of the Rules of Civil Procedure for court approval of a settlement involving a minor, Mr. Justice John K. Mitchell approved the settlement among the…
Read MoreClients who sit on boards of corporate employers should take note of recent amendments made to New Brunswick’s Employment Standards Act (the “ESA”) which could increase their exposure to personal liability in connection with claims advanced by…
Read MoreSignificant changes may be coming to the standard automobile policy in PEI, including increases to the accident benefits available under Section B and an increase to the so-called “cap” applicable to claims for minor personal…
Read MoreOn June 17, 2013, pursuant to the recently amended Section 70 of the Labour Relations Act for Newfoundland and Labrador (“NL”), the Government of Newfoundland and Labrador issued three Special Project Orders (“SPOs”) in respect of the…
Read MoreOn June 14, 2013, the Supreme Court of Canada (“the Court”) released the decision that employers across the country were waiting for. In CEP Local 30 v. Irving Pulp & Paper Ltd., 2013 SCC 34, a…
Read MoreThe Government of Newfoundland and Labrador (“NL”) has recently released its “Aboriginal Consultation Policy on Land and Resource Development Decisions” (the “Policy”). A copy of the Policy can be accessed here. This new Policy is the…
Read MoreThe following is a province-by-province update of legislation from a busy 2013 spring session in Atlantic Canada. Watching these developments, we know the new legislation that has passed or could soon pass, will impact our…
Read MoreThe integrity of the jury system has become a pressing topic for our courts of late, with articles about jury duty frequently appearing front and centre in the press. The recent message from the Nova…
Read MoreIN THIS ISSUE: Cloud computing: House to navigate risky skies by Daniela Bassan and Michelle Chai Growing a startup by Clarence Bennett, Twila Reid and Nicholas Russon Knowing the lay of the land – Aboriginal rights and land claims in Labrador by Colm St. Roch Seviour and Steve Scruton Download…
Read MoreDOES IT APPLY TO YOU? On June 1, 2013, the Personal Health Information Act (PHIA) comes into force in Nova Scotia. If you are involved in health care in Nova Scotia, you need to know whether PHIA…
Read More