Notice on Annual Disclosure Filing for Insurance Products Distributed Without a Representative in Québec

Notice relating to the filing of the annual disclosure for each insurance product offered through a distributor – Insurers offering products in Québec through distribution without a representative Under the Insurers Act, CQLR, c. A-32.1 (the “Act”), every authorized insurer must prepare and send the Autorité des marchés financiers (the “AMF”), according to the form, content and date the AMF determines, the documents and information provided under the Act or requested by the AMF (the “required documents and information”). Section 21 of the Regulation respecting Alternative Distribution Methods (the “Regulation”) stipulates that the insurer must disclose annually to the AMF the following information for each product offered through a distributor:

1. the number of insurance policies and certificates issued and the amount of premiums written;
2. the number of claims and the amount of indemnities paid;
3. the number of rescissions and cancellations;
4. the remuneration paid to all distributors and third parties referred to in subparagraph 1 of the first paragraph of section 20. The deadline for filing the annual disclosure of products offered through distribution without a representative is May 1 of each year. The disclosure must cover the period from January 1 to December 31 of the previous year. Note that all required documents and information must be filed electronically via AMF E-Services. Monetary administrative penalties We remind you that each insurer is responsible for ensuring that the AMF receives all the required documents and information on the fixed dates. Pursuant to sections 491 and following of the Act, monetary administrative penalties may be imposed if an authorized insurer fails or refuses to send the required documents and information to the AMF or if such documents and information are incomplete or filed late. Additional information For further information concerning the above or assistance with AMF E-Services, please e-mail your questions to: Distribution@lautorite.qc.ca February 25, 2021