Defined terms key when drafting insurance policies
By AdvocateDaily.com Staff
A recent Ontario Court of Appeal case shows the importance of using defined terms when drafting insurance policies, Toronto insurance lawyer Rohan Haté tells AdvocateDaily.com.
The decision by a unanimous three-judge panel of the province’s top court restored a potential $2.5-billion class action by life insurance policyholders against their issuer after the judges ruled a lower court judge erred in dismissing the entire claim.
The panel certified parts of the claim related to allegations of breach of contract and noted that it was not clear what even simple phrases, such as “maximum premium” and “minimum premium,” meant in the policy.
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