Using points doesn't cancel out coverage through credit card insurance, B.C. tribunal rules
The dispute dates back to 2023, when Omar Guyah returned a car with a cracked windshield and was charged just under $850 by the rental company to cover the cost of the repair, according to a decision posted online Friday.
Guyah paid for part of the car rental with an Amex that gave him coverage through the Royal & Sun Alliance Insurance Company of Canada. But when Guyah filed a claim with the company seeking reimbursement for the repair cost, he was denied. The company said he was not covered because 'he did not pay the full cost of the car rental with his credit card,' the decision explained.
The booking of the rental was done online through Expedia, a third-party website that allows members to accumulate points and redeem them for discounts, the decision noted, adding that in this case the discount was $7.24.
The question tribunal member Peter Mennie had to answer was whether using points to get a discount meant Guyah did not pay the 'full amount' with his Amex, which he was required to do in order to be entitled to coverage under the policy.
Ultimately, Mennie rejected the insurance company's argument that the points were a form of payment.
'I find that Expedia points are more like a coupon than a monetary payment because they can only be used when booking through Expedia,' Mennie wrote.
'I find that paying the 'full cost' of the car rental means paying the total amount owed after any coupons, discounts, or rebates are applied. To hold otherwise would mean that any sort of promotion or reduction in cost from a car rental company or booking agent would exclude insurance coverage.'
Further, because the policy did not explicitly say the use of points could be grounds for denying a claim, the tribunal found the company was not entitled to do so.
The company was ordered to pay Guyah $848.98 in damages, equivalent to the amount he claimed for the repair. The credit card holder was also awarded $63.83 in pre-judgment interest and $125 in tribunal fees.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
25 minutes ago
- Globe and Mail
UBS to Pay $300M to Settle Credit Suisse Mortgage Securities Lawsuit
UBS Group AG UBS has agreed to pay $300 million to the United States Department of Justice (DOJ) to resolve a legacy matter related to the mis-selling of mortgage-linked investments by Credit Suisse in the United States. On Aug. 1, 2025, Credit Suisse Securities (USA) LLC agreed to settle all Credit Suisse's outstanding consumer relief obligations under the 2017 settlement for its residential mortgage-backed securities (RMBS) business. History of the UBS Lawsuit In January 2017, Credit Suisse reached a $5.28 billion settlement over its role in selling residential mortgage-backed securities between 2005 and 2007. The agreement required the bank to pay $2.48 billion as a civil penalty to the U.S. government, along with $2.8 billion in relief measures such as loan modifications for struggling homeowners, debt forgiveness and funding for affordable housing initiatives. The 2017 settlement was part of a broader initiative by the U.S. authorities to hold major banks accountable for their involvement in the 2007–2008 financial crisis. The DOJ raised allegations that Credit Suisse knowingly acquired and securitized low-quality mortgage loans while misleading investors about the associated risks of these securities. In the years leading up to the crisis, many large banks engaged in misconduct related to RMBS. The DOJ ultimately collected roughly $36 billion in civil penalties from 18 financial institutions for RMBS-related fraud during that period. UBS resolved its own RMBS case with the DOJ in August 2023, agreeing to pay about $1.44 billion in a civil penalty, roughly four months after it acquired Credit Suisse in a $3.25 billion government-orchestrated deal. Other Regulatory Probes Faced by UBS In May 2025, UBS agreed to pay $511 million to resolve a tax probe by the U.S. DOJ against Credit Suisse for preparing false income tax returns and tax evasion. The two-year investigation by the DOJ, initiated before UBS acquired Credit Suisse, found that Credit Suisse aided and assisted in tax evasion through its 475 offshore accounts to prepare false tax returns to conceal more than $4 billion from the US Internal Revenue Service (IRS). The DOJ reported that most of this misconduct occurred between 2014 and June 2023. Thus, an increase in claims against the company and regulatory fines over Credit Suisse's dealings is expected to increase litigation provisions in the near term. Over the past six months, UBS Group shares have gained 11.9% compared with the industry 's 17.6% rise. UBS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Litigations Faced by Other Finance Firms Last month, CNBC reported that Robinhood Markets, Inc. HOOD is under investigation by Lithuania's central bank, its lead regulator in the European Union (EU), regarding its newly launched tokenized equity products. The scrutiny follows Robinhood's recent launch of its Stock Tokens product across the EU, aimed at offering blockchain-based tokenized access to shares, including those of private firms. The offering sparked immediate questions from OpenAI, which openly distanced itself from HOOD's product. Robinhood defended the tokens by highlighting that they are backed by ownership interests designed to provide investors with indirect exposure to private markets. Nonetheless, regulators remain wary, specifically regarding the transparency and legality of how these digital instruments are offered to retail investors. In June, in a ruling, Anthony Trenga, U.S. District Judge in Alexandria, VA, announced that Capital One COF will have to face a lawsuit by social media creators who claim that the bank's free browser extension deprived them of commissions on sales generated through their content. According to the creators, the Capital One Shopping browser extension, which has more than 10 million users, is used to discover discounts. It erroneously reflected Capital One as the source of referral traffic at checkout, making it appear as if consumers had clicked the bank's referral links before making purchases. The creators alleged that this enabled Capital One to collect millions of dollars in commissions that rightfully belonged to bloggers, influencers, YouTubers and other content creators. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> UBS Group AG (UBS): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
Globe and Mail
25 minutes ago
- Globe and Mail
These 3 CEOs Just Bought the Dip
Investors closely monitor insider buys, as they can give hints surrounding the long-term picture. But it's critical to note that insiders have a longer holding period than most, and many strict rules apply to their transactions. Recently, CEOs of several companies – MSCI (MSCI), Charter Communications (CHTR), and Healthpeak Properties (DOC) – have made splashes, acquiring shares. Let's take a closer look at the transactions for those interested in trading like the insiders. MSCI CEO Buys Millions Worth MSCI provides investment decision support tools, including indexes; portfolio construction and risk management products and services; Environmental, Social and Governance (ESG) research and ratings; and real estate research, reporting and benchmarking offerings. The stock is a Zacks Rank #2 (Buy) thanks to positive EPS revisions, with analysts taking expectations higher across the board over recent months. Henry Fernandez, CEO, recently has purchased roughly 12.5k MSCI shares, with the total transaction totaling roughly $6.7 million. As shown below, the purchase aligned with a dip in MSCI shares, reflective of confidence in the positive EPS and broader long-term outlook. CHTR CEO Dives In Charter Communications is the second-largest cable operator in the United States and a leading broadband communications company providing video, internet, and voice services. CEO Christopher Winfrey recently purchased roughly 3.6k CHTR shares at a total transaction value of just over $1 million. As shown below, the purchase coincided with a plunge in CHTR shares, with the CEO scooping up shares at a discounted level. X Still, analysts have lowered their EPS outlooks across the board, likely reflective of further short-term pain ahead. Positive EPS revisions would be key for a positive turnaround in sentiment, with the CEO's long holding horizon an obvious advantage here. Healthpeak CEO Buys Healthpeak Properties is a REIT in the United States that acquires, develops, manages, sells, and leases a diverse portfolio of healthcare real estate-related properties. Insiders have regularly bought on share weakness in 2025, as we can see in the green arrows in the chart below. X CEO Scott Brinker recently swooped in and purchased roughly 6k DOC shares at a total transaction value of roughly $100k. He now owns more than 210k shares overall. The stock's weak performance has been partly driven by negative earnings estimate revisions, currently a Zacks Rank #4 (Sell). The purchases here are relatively unsurprising, given the CEO's long-term horizon and the discount that shares are currently displaying. However, near-term performance can be expected to remain soft given the cloudy EPS outlook. Bottom Line Many investors closely monitor insider buys, looking to receive insights into the longer-term picture. The transactions shouldn't be relied on for near-term performance, as insiders' holding periods are longer than most, and many strict rules apply. Rather, investors can see insider buys as an overall net positive concerning the longer-term outlook. All large-cap stocks above – Healthpeak Properties DOC, MSCI MSCI, and Charter Communications CHTR – have seen recent insider activity. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> MSCI Inc (MSCI): Free Stock Analysis Report
Globe and Mail
44 minutes ago
- Globe and Mail
Canada's trade deficit widened to $5.9-billion in June, second highest on record
Canada's merchandise trade deficit widened in June to $5.9-billion as imports grew faster than exports due to a one-time high-value oil equipment import, data showed on Tuesday. The deficit observed in June is the second highest on record after the deficit dipped to its largest in history in April to $7.6-billion. Analysts polled by Reuters had predicted the trade deficit to widen to $6.3-billion in June from a downwardly revised $5.5-billion in May. Total imports were up 1.4 per cent in June to $67.6-billion from a drop of 1.6 per cent in the prior month, Statistics Canada said, adding that excluding the one-time product import which was from the U.S. for an offshore oil project, total imports were down 1.9 per cent in June. LeBlanc says Trump, Carney to speak in coming days following tariff announcement Opinion: Why the damage to Canada from Trump's tariffs has been small (so far) Canada's total exports grew 0.9 per cent in June to $61.74-billion following an increase of 2 per cent in May, its second consecutive increase, Statscan said, led primarily by an increase in value of crude oil exports which saw an increase in prices in June due to tensions in the Middle East. In volume terms, however, exports were down 0.4 per cent in June. U.S. President Donald Trump cranked up the tariffs on Canada to 35 per cent from this month from 25 per cent on goods which were non-compliant with a free trade deal. Canada is also struggling with a slew of sectoral tariffs on steel, aluminum and automobiles. This has chewed into its massive trade balance with the U.S. as exporters drove away from what the world's biggest market in Canada's backyard to other regions from Europe and Middle East to as far as the Indo-Pacific. Trade Minister Maninder Sidhu eyes new markets outside U.S., looks at Southeast Asia and beyond Exports to the U.S. in June, however, increased by 3.1 per cent in June, due to crude oil shipments. But on a year-over-year basis, exports to the U.S. were still 12.5 per cent lower when compared with the same period a year ago. After reaching a record high in May, exports to countries other than the United States were down 4.1 per cent in June, representing the first decline since February, Statscan said. The increase in total imports in June was mainly led by a 2.6 per cent increase in imports from the U.S. due to the import of a module for an offshore oil project, the statistics agency said. This was the first increase in imports after three consecutive monthly decreases, data showed. The Canadian dollar slightly weakened further after the data and was trading down 0.2 per cent to 1.3804 against the U.S. dollar, or 72.44 U.S. cents. Yields on the two-year government bonds were up 0.6 basis points to 2.703 per cent.
