Arbitration Rules and Regulations
#11. Submission of a case to Arbitration under the Agreement shall have the same force and effect upon signatory companies, with regards to the applicable Statute of Limitations, as if litigation has been instituted. The Agreement does not have application, unless there is mutual consent of the controverting companies, when a case is not submitted prior to the expiration of the governing Statute of Limitations. In the event of a disagreement, in any particular case, as to the application of this regulation, all controverting companies thereto will be bound by any ruling thereon by the Arbitration Director.
Limitation Periods during Covid-19
The CICMA would follow the provincial guidelines and rules in regards to limitation dates. It would seem unreasonable to do otherwise as limitation dates would not ever be shortened, thus leaving some insurers to be left with the option of litigation as the standard limitation period has expired, however courts will still accept the suit due to the COVID extensions. As the CICMA is meant as a venue to support our signatory companies, we will honor these claims as long as they are filed within the extensions of limitation granted by the provincial courts that hold jurisdiction for the claim.
If a signatory company feels that the limitation period has expired we suggest that Arbitration be filed and if it is believed that limitation should be imposed, that argument should be included in the response. The panel will review the provincial court applications of the limitation period extensions due to Covid-19 and apply them to their decision making process.