Settlement Disclosure Notice

​The Financial Services Regulatory Authority of Ontario (FSRA) has a series of Auto Insurance Claims Forms (OCF Forms) that must be completed to apply for accident benefits after a motor vehicle accident. In addition to Ontario’s standard OCF forms, the Settlement Disclosure Notice is a required document under the SABS. It is used when an insurer and claimant reach a settlement agreement for accident benefits.

This form is designed to protect accident victims’ rights by ensuring that they fully understand the terms of their settlement before signing. Your insurer is legally required to provide this notice at least 10 business days before the settlement can be finalized. The notice must clearly explain what benefits are going to be provided, how much you’re going to be paid, and any future entitlements being waived.

You can read more about the Settlement Disclosure Notice and download it on the FSRA website here.

What Information is Required in the Settlement Disclosure Notice?

Your insurer will need to fill out the Settlement Disclosure Notice and provide it to you before you sign a settlement. It includes:

• The type and amount of accident benefits being settled
• A breakdown of the lump-sum settlement amount
• Whether you’re going to be giving up future entitlements to medical, rehabilitation, attendant care, or other benefits
• Information about your right to consult with a lawyer
• A mandatory 10-day waiting period before the settlement can be finalized
• Confirmation that you understand and accept the terms of the settlement

It’s important that you review the disclosure you receive carefully and only sign if you fully understand and agree to the settlement. If you’re confused about any terms included in the notice you receive, you should speak with an accident benefits lawyer in Ontario.

How Can a Personal Injury Lawyer Help With the Settlement Disclosure Notice?

Settlement offers from insurance providers can be complicated. Once they’re accepted, they are usually final. At Preszler Injury Lawyers, our Ontario personal injury lawyers will review the Settlement Disclosure Notice on your behalf, explain the impacts of accepting, and help you negotiate a fairer amount if necessary. We’ll also make sure you don’t sign away any important benefits without fully understanding your rights.

Contact Preszler Injury Lawyers today for a free consultation, and let us help you make an informed decision about your Settlement Disclosure Notice.