Change in Pre- Judgment Interest: Retroactive or Not?
We blogged about the change in the pre-judgment interest rate in March and April of this year. As of January 1, 2015, the Insurance Act was amended to provide that the 5% pre-judgment rate set out in the Rules of Civil Procedure does not apply in motor vehicle accident cases. As a result, pre-judgment interest […]
Change in Pre-Judgment Interest Determined to be Retroactive
We blogged about the change in the pre-judgment interest rate last month. As of January 1, 2015, the Insurance Act was amended to provide that the 5% pre-judgment rate set out in the Rules of Civil Procedure does not apply in motor vehicle accident cases. As a result, pre-judgment interest on general or non-pecuniary damages […]
