AIG Insurance Co. v. Canjam Trading Ltd is of interest because it relies on the practically ancient (at least in terms of limitations jurisprudence) decision in Consumers Glass Co. v. Foundation Co. of Canada Ltd (1985) for the principle that “mere knowledge of a possible claim is not sufficient to trigger the commencement of time for limitation purposes.”
This principle has been codified in section 5(1)(a) of the Limitations Act, 2002 since January 2004. Nevertheless, it’s good that the Court is emphasising the point, even if by relying on dusty, albeit still frequently-cited authority. It remains frustratingly difficult for many who practiced under the old Act to accept that the limitation period doesn’t necessarily commence on the date of the loss.
