Major shortcoming of new interpretive guideline for catastrophic impairment designations

By Andrew Leroy Rudder ( March 23, 2021, 10:32 AM EDT) -- The Financial Services Regulatory Authority of Ontario’s (FSRAO) new Interpretive Guideline, which impacts the only automatic catastrophic impairment (CAT) designation in the statutory accident benefits schedule (SABS 34/10), was a good change, but it didn’t go far enough. I’ll explain why, as well as discuss the additional changes needed to improve the fairness of the CAT designation process and eliminate the discriminatory ramifications based on geography, which were inherent in the old “Superintendent’s Guideline No. 01/16” that it replaced....