Notice on Q.E.F. Endorsements 45, 4-45A and 4-45B Regarding Vehicle Theft Warranties

Notice regarding Q.E.F. No. 45 – Warranty applicable to theft of entire vehicle (Section B), Q.E.F. No. 4-45A – Warranty relating to the risk of theft of entire vehicle (Section B) and Q.E.F. No. 4-45B – Warranty relating to the risk of theft of entire vehicle (Section C) To prevent motor vehicle theft, several insurers are, in certain circumstances, requiring the addition of endorsement Q.E.F. No. 45 – Warranty applicable to theft of entire vehicle (Section B), endorsement Q.E.F. No. 4-45A – Warranty relating to the risk of theft of entire vehicle (Section B) or endorsement Q.E.F. No. 4- 45B – Warranty relating to the risk of theft of entire vehicle (Section C). By signing one of these endorsements, the insured agrees to have an anti-theft or tracking system determined by the insurer installed and maintained in working order. Insurers requiring this endorsement are seeking to reduce the risk of theft as part of a broader effort to combat the scourge of motor vehicle theft. In this regard, the Autorité des marchés financiers (“AMF”) wishes to clarify its expectations regarding sound commercial practices and the fair treatment of clients. In the AMF’s view, where an insurer requires the addition of any of these endorsements as a condition of making an insurance contract, it would be appropriate for the insurer to, for example, grant the client a discount on the premium or assume the cost of installing such a system. Further information Further information is available from the AMF Information Centre: Québec City: 418-525-0337 Montréal: 514-395-0337 Toll-free: 1-877-525-0337 www.lautorite.qc.ca November 28, 2024