Collateral Benefit Deductions
What are Collateral Benefits and How Are They Related to the Statutory Accident Benefits Schedules? In Ontario, all insurance providers of automobile insurance coverages are required to provide accident benefits to the insured party by way of the Statutory Accident Benefits Schedules (SABS). The SABS is a form of no-fault insurance coverage. It is mandatory and included in all standard auto insurance policies within the province. These benefits are regulated under the Ontario Insurance Act and have been put in place by the Ontario government in order to help the insured party pay for out-of-pocket injury-related expenses such as health costs not covered by OHIP, …