Section 5 1 of ontario regulation 461 96 entitled deductible amounts has now been amended as have some parts of section 267 5 of the insurance act. As of january 1 2020 there is a deductible of 39 556 53 for pain and suffering awards valued under 131 854 01.
The ontario government has set statutory deductibles that apply to everyone with a personal injury claim.
Insurance deductible by law ontario. Until july 1 2017 corporations that do not currently have an insurance deductible by law in place will still have the opportunity to enact such a by law if they act quickly. The statutory deductible for non. The most typical insurance deductible by law in our experience and the usual case from the original builder by laws for new condominiums has been a by law extending the circumstances such that the corporation can recover where an act or omission of an owner damages other units and the common elements typical by law.
For example if the award is valued at 100 000 00 then the defendant is entitled to reduce that amount by the deductible of 39 556 53. The draft regulations to the pcoa indicate that any existing insurance deductible by law enacted prior to the pcoa coming into force will still be valid. Under the existing condominium act in ontario the deductible may only be charged back to the unit owner if the damage was caused by the unit owner s act or omission and only for damage to that.
The deductible is the amount of an injured person s pain and suffering award that has been stripped away by the ontario government insurance laws. Accident victims simply do not receive the full value of their claims for pain and suffering and loss of enjoyment of life unless the claim exceeds 129 395 49. For example if your car needs 5 000 in repairs and there is a 500 deductible on the policy you will receive 4 500 from the insurance company.
The deductible for non pecuniary loss when a tort award does not exceed the monetary threshold is adjusted from 37 983 33 to 38 818 97 in the case of damages from january 1 2019 until december 31 2019. Most auto insurance policy holders are familiar with the concept of deductibles. This would lower the amount received for pain and suffering to 60 443 47.