In calculating Income Replacement Benefit entitlements (IRBs), we routinely encounter certain issues where there are unresolved disagreements between insureds, insurers and their respective accounting experts over the interpretation of Ontario Regulation 34/10, the Statutory Accident Benefits Schedule (SABS), which became effective for all motor vehicle accidents occurring on or after September 1, 2010 (the new SABS). Of course, resolution of these issues is a matter of law beyond the expertise of accountants. As such, we have selected three of these issues for your consideration.
