Regulatory Alerts2015-03-19
Notice on Six New Automobile Insurance Endorsement Forms Coming into Force March 19, 2015
The Autorité des marchés financiers has issued six new automobile insurance endorsement forms effective March 19, 2015 to standardize coverage for travel expenses, loss of income, and vehicles stationed at aerodromes. These endorsements expand existing policy provisions to compensate insureds for income loss when replacement vehicles lack equivalent specialized equipment, while simultaneously allowing insurers to adjust Section A coverage limits for aerodrome premises without violating statutory minimums. All licensed insurers may immediately adopt these forms to update policy conditions and streamline claims processing.
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