Insurance News Highlights May 8th
Published: May 8, 2015
Updated: July 24, 2018
Author: Callum Micucci
CATEGORY: Industry News
Critics say new Ontario insurance regulations slash important benefits
Critics are saying that the new Ontario insurance rules leave those critically injured in car accidents without important benefits.
The Personal Injury Alliance, the Brain Injury Society of Toronto, Spinal Cord Injury Ontario and individual victims formed a coalition and held a press conference May 7 to address the changes.
The Ontario Liberals proposed to combine attendant care and rehabilitation into a single benefit up to a limit of $65,000 (down from two separate benefits totaling $80,000) in their recent budget. Ontarians will still have the option to increase this limit to $2 million.
"Even with the existing system, it's entirely inadequate and we're constantly telling our catastrophically injured people that they're going to have to do without because there's not enough money in the system," the Personal Injury Alliance's Troy Lehman told CBC.ca.
"It's devastating news to have to break and if these changes go through, it's going to be twice as bad because half of the money for medical rehabilitation and care would disappear," he said.
Personal Injury Alliance firms make their money on personal injury litigation contingency fees.
Daimler testing driverless trucks
Nevada has granted Daimler a license to test its driverless trucks.
Daimler board member Wolfgang Bernhard told Reuters that autonomous trucks were likely to hit the roads before autonomous cars like Google’s because they operate in a less complicated environment.
It’s also a financial incentive to trucking companies, as it would cut the costs of fuel and driver wages.
Despite the obvious advantages, autonomous trucks are likely at least ten years out due to regulatory hurdles.
Bernhard told Reuters that the “tipping point” would be when enough U.S. states adopt regulations so that inter-state shipping is viable.
"We need more than (a few states) and it will take some time," he said.