Section 349: Interest

(1)
Interest on damages is recoverable in addition to the principal sum.
(2)
For claims under subsection (1) of section 347 of this Act, interest shall run from the date of the collision to the date of payment.
(3)
For all other claims, interest shall run from the date the loss was sustained or the expense was incurred to the date of payment.
(4)
The rate of interest shall be ten per cent per annum.