Controlling shareholder entitled to maximum weekly income benefits based on pre-accident salary without corporate expense deductions.
The Applicant was injured in a motor vehicle accident and sought weekly income benefits.
He was the president and controlling shareholder of an electrical contracting business.
The Insurer argued the Applicant should be treated as self-employed, attributing the company's income and expenses directly to him, which would reduce his benefits.
The arbitrator rejected the Insurer's approach, finding that the Applicant's pre-accident salary of $600 per week was a real and reasonable salary within the context of the company's history.
The arbitrator ordered the Insurer to pay the maximum weekly income benefit of $600, without deducting business expenses or post-accident corporate income, plus interest and arbitration expenses.
OFSCDRSOntario Financial Services Commission - Dispute Resolution ServicesDec 6, 1993
