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Accident Benefit: Accident benefits are a robust package of benefits and coverage under the Insurance Act. The benefits can cover medical costs, rehabilitation, attendant care, home maintenance and income replacement.
Bad Faith: Insurance companies owe a duty of good faith and fair dealing with those who contract with them. If the covenant of good faith is broken, the insured person (policyholder) may sue the insurance company on a tort claim. It is possible in such a case to recover an amount larger than the original face value of the policy, if the company’s conduct was particularly egregious.
Civil action: An action to protect a private, civil right or to compel a civil remedy in a dispute between private parties, which is distinguished from criminal law.
Damages: Monetary compensation the law awards to one who has suffered damage, loss or injury by the wrongful conduct of another.
Examination for Discovery: An examination under oath and part of a civil action. If you are suing someone, or being sued, you will likely attend an examination of discovery. You are not attending a court – there is no judge present. A stenographer will take down questions and answers and you will be provided with a transcript of the session.
Liability: An obligation to do or refrain from doing something; responsibility for one’s conduct.
Statement of Claim: The written statement of a plaintiff in a cause of action, the purpose of which is to set out the remedy claimed from the defendant and describe the events that took place, which would justify the court awarding this remedy. A part of the pleadings exchanged between plaintiff and defendant.
Structured Settlement: Structured settlements provide regular, periodic payments as opposed to a lump sum settlement. Structured settlements are considered to be asset-backed securities.
Tort: Injury, wrong. The breach of a duty imposed by law, whereby some person acquires a right of action for damages.