Regulatory Alerts2015-04-09
Notice Regarding the Offering of Usage-Based Automobile Insurance Products
The Autorité des marchés financiers (AMF) issued this notice to establish regulatory expectations for Québec insurers offering usage-based automobile insurance programs. Insurers must ensure voluntary consumer participation, transparent disclosure of data collection and premium impacts, and comprehensive sales training while maintaining strict risk management for outsourced services. Furthermore, the AMF mandates that UBI data be treated as personal information under Quebec privacy law and prohibits insurers from using such data to refuse, terminate, or decline policy renewals.
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