The appeal concerned whether future Canada Pension Plan disability benefits fall within the SEF 44 Endorsement deduction for amounts recoverable under a policy of insurance providing disability benefits.
The Court held the endorsement language is unambiguous and refers to private insurance policies, not mandatory statutory schemes like the Canada Pension Plan.
It rejected reliance on collateral-benefit jurisprudence from distinct statutory and tort contexts to alter the contract’s ordinary meaning.
The appeal was allowed and CPP disability benefits were held non-deductible from amounts payable under the endorsement.
