In this post we will briefly cover two common endorsements called the OPCF 20: Coverage for Transportation Replacement and the OPCF 27: Liability for Damage to Non-Owned Automobile(s). If you rely heavily on your vehicle then the last thing you want is to have it damaged severely, leaving you without transport.

Loss of Vehicle Use
Loss of Vehicle Use (OPCF 20): This coverage covers the cost of a rental vehicle while your vehicle is being replaced or repaired, if the damage or loss is caused by a peril for which you are insured.

Financial Services Commission of Ontario
Financial Services Commission of Ontario.

Family protection coverage, or OPCF44R in Ontario, is additional vehicle insurance that protects both you and eligible family members in the event of injury or death in an accident with an underinsured, uninsured, or unidentified motorist when you are not at fault.

Every insurance policy for perils against property contains some common elements referred to as “statutory conditions.” Statutory means that they are required by a government act or statute. It must provide notice of termination of the policy. The persons or people insured also have responsibilities.

The OPCF 32 – Recreational Vehicle Endorsement – allows underage operators to use the vehicle. If the OPCF 32 is added to your policy, it means your insurance company will extend coverage if an underage operator is using your snowmobile, ATV or amphibious vehicle.

The Financial Services Regulatory Authority of Ontario (FSRA) is an independent regulatory agency created to improve consumer and pension plan beneficiary protections in Ontario. FSRA was established to replace the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO).

FSCO regulates the insurance sector; pension plans; loan and trust companies; credit unions and caisses populaires; the mortgage brokering sector; co-operative corporations in Ontario; and service providers who invoice auto insurers for statutory accident benefits claims. FSCO is accountable to the Minister of Finance.

Is OPCF 44R Mandatory? OPCF 44, 44R is not mandatory in Ontario. It is optional protection drivers can purchase and add to their plan.

Family Protection Coverage
The OPCF 44R Family Protection Coverage is an optional auto insurance coverage Ontario drivers may purchase. It comes into play when the at-fault driver’s liability coverage is not enough to compensate the injured victims. Therefore, if a driver has $200,000 in liability coverage, then his OPCF is also $200,000.

A typical standard mortgage clause provides that if the insurance company denies the owner’s claim because of the owner’s acts or because the owner has failed to comply with the terms of the policy, the mortgage holder still has the right to receive loss payment.

Subrogation is a term describing a right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured. This is done in order to recover the amount of the claim paid by the insurance carrier to the insured for the loss.

OPCF 4A – Permission to Carry Explosives OPCF 4B – Permission to Carry Radioactive Material OPCF 6F – Public Passenger Vehicles – Combined Limits OPCF 29 – Additional Coverage for Named Person (s) Please note that the content of these forms may not be altered.

Clarifications to Form OPCF 28 (Reducing Coverage for Named Persons) There are two clarifications to this form: The liability limit does not include Direct Compensation – Property Damage . The limit is strictly for Bodily Injury and Property Damage – Tort.

OPCF 6F – Public Passenger Vehicles – Combined Limits OPCF 29 – Additional Coverage for Named Person (s) Please note that the content of these forms may not be altered. In addition, no part of any form can be reproduced or used for any other purposes other than it is intended for.

It buys mortgages from lenders, securitizes them, and sells the securities to investors. The index measures mortgage commitments (Mtg Com) for delivery (del) within 30 to 60 days; that is the required net yield on mortgage loans that lenders sell to FNMA, which in turn sells mortgage-backed securities to investors.