Regulatory Alerts2012-12-12
Notice on the Annual Automobile Insurance Experience Questionnaire in Québec (December 2012)
The Autorité des marchés financiers (AMF) requires Québec-licensed damage insurers to submit an annual automobile insurance experience questionnaire in Excel format via electronic mail and file transfer services. The AMF will discontinue mailing physical annual letters, transmitting all required documentation and filing deadlines electronically through its dedicated portal. Insurers remain solely responsible for ensuring timely submission of the completed questionnaire and supporting rate manual proofs within the prescribed deadlines.
Notice of the Autorité des marchés financiers relating to the annual questionnaire entitled Information on Automobile Insurance Experience in Québec (This Notice is intended for damage insurers (property and casualty) licensed to carry on automobile insurance business in Québec) Under sections 177 and 178 of the Automobile Insurance Act, R.S.Q., c. A-25 (the “Act”), the Groupement des assureurs automobiles (the “GAA”), acting in its capacity as an agency authorized by the Autorité des marchés financiers (the “AMF” or the “Authority”), collects the statistical data and information concerning an insurer’s automobile insurance experience in Québec and transmits them to the AMF. To carry out its analysis on automobile insurance rates in Québec, the AMF requires additional information from insurers. In this regard, under section 181 of the Act, each authorized insurer must furnish such proof to the AMF as it may demand regarding any matter or matters in its rate manual. Questionnaire on automobile insurance experience in Québec The AMF collects the information required to carry out its analysis on automobile insurance rates in Québec by means of a questionnaire titled Information on Automobile Insurance Experience in Québec (the “questionnaire”). As in previous years, this questionnaire, in Excel format, is available on the AMF website by clicking on: http://www.lautorite.qc.ca/en/automobile-rate-manual.html. Please note, however, that the AMF will no longer send out an annual letter with the list of documents and information required from insurers under the Act. This information will be transmitted by the AMF to insurers via electronic means only, using E-mail Info. A Notice will also be published concurrently in the AMF Bulletin and on its website at www.lautorite.qc.ca. Please be reminded that each insurer is responsible for filing the documents and information within the time limit set out by the AMF. Electronic filing of questionnaire Furthermore, insurers will need to transmit the electronic version of the questionnaire in Excel format to the AMF using the File Transfer Service (FTS). No other format will be accepted for the filing of the questionnaire. Additional information For technical support or for additional information concerning this Notice, please send an e-mail to the following address: info-automobile@lautorite.qc.ca. December 13, 2012