Late payments from insurers to licensed service providers

​FSCO recently issued a Bulletin to remind insurance companies of their duties with regard to payment of invoices submitted by licensed service providers. The Bulletin reiterates the duty to pay interest owing for late benefits payments, and that there are no provisions under the SABS for:
 
  • Negotiation of a lower or $0 interest payment.
  • Negotiation to waive the interest by offering incentives such as quicker payment of the invoice.
See FSCO Bulletin No. A-03/15 at www.fsco.gov.on.ca for more information.
 

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