Category: Interest

Applicant v. Aviva Insurance Company of Canada (16-001985)

The claimant sought and was successful in obtaining a Tribunal Order for a number of treatment plans. In making the determination, the Tribunal also ordered interest payable at 2 percent per month. On reconsideration, however, Executive Chair Lamoureux noted the Tribunal erred by using the interest provisions of the previous SABS; the correct provision is section 51 at a rate of 1 percent per month, compounded monthly.

R.M. v. Optimum Insurance Company (16-000344)

The claimant brought an application for interest and a special award on IRBs that had been miscalculated by the insurer. Adjudicator Bickley awarded interest on IRBs after they were recalculated at a higher amount. A special award was denied because the parties had proceeded on the shared assumption of the weekly IRB quantum for six years, until new records were obtained by the claimant.