Regulatory Alerts2024-11-28
Notice on Q.E.F. Endorsements 45, 4-45A and 4-45B Regarding Vehicle Theft Warranties
The Autorité des marchés financiers (AMF) has issued guidance clarifying insurer obligations regarding Q.E.F. No. 45, 4-45A, and 4-45B endorsements that mandate anti-theft or tracking systems for insured vehicles. When insurers require these endorsements as a condition of coverage, they must demonstrate sound commercial practices by typically offering premium discounts or covering the installation costs of the specified systems. This regulatory clarification aims to mitigate rising motor vehicle theft rates while ensuring equitable financial treatment for policyholders who comply with the mandatory device requirements.
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