Tribunal rules that 2% compounded interest on a special award under Regulation 664 is mandatory.
The applicant brought a motion to determine the interest payable on a previously approved treatment plan for home modifications and a 25% special award.
The respondent argued that interest on the special award was discretionary under s. 10 of Regulation 664.
The Tribunal applied the modern approach to statutory interpretation and found that the 2% compounded interest on an award is mandatory, not discretionary.
The Tribunal ordered the respondent to pay $154,028.00 for the outstanding interest on the OCF-18 and the award.
Jeyanathan Thangarajah v. Certas Home and Auto Insurance Company, 2023 CanLII 52472