Personal Injury Law: New ruling establishes that any financial outlay is an economic loss

Posted March 23, 2015

A recent Financial Services Commission of Ontario arbitration decision has confirmed that any financial outlay by a service provider can qualify as an economic loss within the meaning of the definition of “incurred” in subsection 3(7)(e) of the Ontario statutory accident benefits schedule.

In the arbitration decision of Futrell v. State Farm Mutual Automobile Insurance Co., arbitrator James Newland determined that even parking and mileage expenses incurred by a retired husband in providing needed attendant-care services to his injured wife qualified as an economic loss and warranted payment by the accident benefit insurer for the services provided.

To read the full article, please click here.

Share This

Share on Facebook Share on Twitter Share on Linkedin Share on Google+ Share By Email