The appeal concerned whether a statutory accident benefits settlement notice complied with the commuted value disclosure requirement under s. 9.1(2), para. 5 of the Automobile Insurance Regulation.
The court held that a description of the maximum statutory accident benefits available to the insured was not a commuted value of those benefits, and that the notice provided did not satisfy the regulation.
The insured was therefore entitled to rescind the settlement under s. 9.1(4).
The court dismissed the appeal, while clarifying that an insurer may determine commuted value based on the information available if done in good faith and with clear factual assumptions.
