In this short article, we have tried to start setting out a list of terms with a brief description so that you have a guide to assist in starting to understand some of the terms. Please remember that this list and description is not exhaustive and by no means is this in any way legal advice. You should consult with a lawyer about your rights and entitlement and a free consultation with a lawyer can be arranged by clicking here.
(1) MVA = motor vehicle accident
(2) SABS = statutory accident benefits. These are the no-fault benefits that you can access, often through your own insurance company.
(3) IRB’s = income replacement benefits. These are benefits that you may be eligible to apply for from your SABS/No-fault insurance company to compensate you for time off of work.
(4) Tort = Claim against an at-fault party in an accident. This is usually pursued by way of a lawsuit against the party or parties that were responsible for the accident. You may be eligible to claim for pain and suffering, income losses, housekeeping costs etc. etc.
(5) BI = Bodily Injury. This term is often used to describe the tort/fault portion of the lawsuit. You may also hear the term used when an insurance adjuster is described as a “BI adjuster” as opposed to a SABS/no-fault adjuster or property damage adjuster.
(6) Deductible = In many car accident cases, a deductible is subtracted from amounts that an injured person is awarded for pain and suffering in a lawsuit (often $30,000). For instance, if you reached a settlement or were awarded $75,000 for pain and suffering, you might only receive $45,000 after application of the deductible. A deductible may also apply to family members who advance claims under the family law act.
(7) Threshold = Ontario’s Insurance Act contains a threshold that many injury victims must meet in order to be able to make a claim or start a lawsuit for pain and suffering. If someone does not meet the “threshold” then they may well not be entitled to claim for pain and suffering. The threshold has been subject to interpretation by statute, judicial authority and academic writing.
(8) Uninsured/underinsured coverage = If you are the injured victim in a car accident caused by an uninsured or inadequately insured vehicle you may well have access to coverage from your own insurance company or from the motor vehicle accident claims fund (a special fund in Ontario), above and beyond the amounts available through the uninsured/underinsured vehicle. Similarly, there may also be coverage available if the at-fault vehicle was unidentified.
Your uninsured/underinsured coverage can be particularly important if you are injured in a car accident in the United States. The minimum limits in some U.S. states can be quite low, and Ontario injury lawyers have seen many cases where the uninsured/underinsured coverage provided the bulk of the recovery for the injured victim.
Further terms will be added as the list grows.
Please feel free to request a free, no obligation, consultation from an experienced personal injury lawyer.