Ontario accident victims will see less money from accident claims

(Photo credit: Quevaal/SXC)

Motor vehicle accident victims will receive less in damage claims thanks to the Ontario government’s sudden proposal to lower the prejudgment interest rates on general damages in motor vehicle accident claims.

Wynne’s government plans to decrease the rate to 1.3 per cent (the Courts of Justice Act rate) from five per cent and it did not discuss these changes with the legal industry. This rate change will delay justice for innocent accident victims and delay victims from receiving treatment, which would lead to huge backlogs in court. This policy will only benefit the corporations and not the people who pay insurance company policies.

In 2012, Ontario insurance companies saw profits of $233 million, Ralph Palumbo, Ontario’s vice-president of the Insurance Bureau of Canada, told the Mississauga News.

Contact your MPP immediately and voice your concern about this change. This legislation affects any driver, cyclist and pedestrian who shares Ontario’s roads.

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Greg Neinstein

Greg Neinstein, B.A. LLB., is the Managing Partner at Neinstein Personal Injury Lawyers LLP. His practice focuses on serious injury and complex insurance claims, including motor vehicle accidents, slip and fall injuries, long-term disability claims and insurance claims. Greg has extensive mediation and trial experience and has a reputation among his colleagues as a skillful negotiator.

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accident benefit claims, motor vehicle collisions, Neinstein Personal Injury Lawyers