2020 Automobile Insurance Indexation Amounts AUTO • December 20, 2019 The Financial Services Regulatory Authority of Ontario (FSRA) has released the 2020 indexation percentage and revised monetary amounts related to auto insurance claims that are subject to indexation under the Insurance Act ("the Act") and its regulations. The 2020 indexation percentage is 1.9%. This indexation percentage applies to:
- monetary thresholds and deductibles for determining non-pecuniary tort awards under the Insurance Act and O. Reg. 461/96, (Court Proceedings for Automobile Accidents that Occur on or after November 1, 1996)
- amounts that are required to be indexed pursuant to the:
- Statutory Accident Benefits Schedule – Effective September 1, 2010 ("2010 SABS");
- Statutory Accident Benefits Schedule – Accidents on or After November 1, 1996 ("1996 SABS"); and,
- Statutory Accident Benefits Schedule – Accidents after December 31, 1993 and before November 1, 1996 ("1993 SABS").
Learn more at: 2020 Automobile Insurance Indexation Amounts.
If you have any questions or need more information, contact us at [email protected]. Effective June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and our approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca. |
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Please note: If you are a regulated licensee/registrant, regardless of whether or not you subscribe to e-communications, you will automatically receive important information from FSRA via the e-mail address you have provided. More importantly, as a regulated licensee/registrant, you will not be able to unsubscribe from these important email communications. Financial Services Regulatory Authority of Ontario 5160 Yonge Street, 16th Floor • Toronto, ON M2N 6L9 www.fsrao.ca • [email protected] 1-800-668-0128 |
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