Originally Posted by
canadiancow
When I had my bags delayed, I was offered $50 from baggage services in YOW.
I then went to talk to the concierge, who said she thought SE was allowed $100, but could not find any documentation about that.
So I stuck with the $50.
I have a credit card with good coverage now, but if there's a $300 rule, I certainly have never heard of it, nor had the YOW concierge

Delayed baggage compensation is based on status level, length of delay (they give more in 24 hour increments).
This past summer I had a delayed baggage and filed a report nut was missing some info so called in, got nowhere fast with the pseudo named front line agents so spoke with Mr ''Dressup'' who was the manager on duty who offered me the VIP level of compensation limit upfront right away (to make up for the poor service). But didn't end up using it as my CC offered better insurance and can't double dip.
YMMV but Elites should be looking at $100-150 within the first 24 hours. More afterwards if your bag is still missing after 24 hours.
BTW they are very good at following up with Elites to ensure you received your bag. Note their (business) name though. Especially when dealing with supervisors, as their names can change..