October 2010

MDD Launches Online Income Replacement Benefit Calculator for Ontario Clients

Melissa Joynt, CA, Matson, Driscoll & Damico

In Ontario, Canada automobile insurance includes coverage for accident benefits. These benefits relate to medical and rehabilitation as well as a component for income replacement benefits if the claimant meets the eligibility requirements. MDD is often engaged in claims of this nature, especially with respect to self-employed individuals or more complicated calculations for employed individuals who have multiple return-to-work periods.

However, for straightforward calculations such as an employed individual who has either returned to work at a reduced capacity or is collecting collateral benefits, the adjusters typically will perform the income replacement benefit calculations themselves using a variety of software packages.

MDD is pleased to announce that we have worked closely with a software developer to create and implement an online income replacement benefit calculator to help our firm's accident benefits clients in Ontario calculate weekly income replacement benefits for employed individuals.

You may access the calculator by visiting us at www.mdd.com or clicking on https://www.mdd.com/ce/irbcalc/users/login.

To access the calculator, adjusters first need to register at https://www.mdd.com/ce/irbcalc/users/register. We will then email you with your password. Once logged in, adjusters will answer a series of questions to help guide them through the thought process of calculating the benefit. The calculator processes the information and presents the adjuster with a final weekly amount for payment. Lastly, the calculator sends an email to the adjuster, which includes the inputs they've made, and shows the final calculation. Adjusters can then print the email for their files.

In addition to providing clients with an easy-to-use tool that saves time, the calculator also notifies the user when a calculation may be more complicated than anticipated and requires a more detailed analysis for an accurate calculation.

If you have questions or would like more information regarding MDD's calculator, please contact Melissa Joynt at 416.366.4968 or mjoynt@mdd.com.