Regulatory Alerts2013-03-19
AMF Notice on Familiarization Guide for New Clear Language Automobile Insurance Forms
The Autorité des marchés financiers (AMF) has published new clear-language automobile insurance forms, specifically the Owners’ Form and Complementary Insurance for Damage to Insured Vehicle Form. To facilitate industry adoption, the Authority released a Familiarization Guide that outlines major items and key amendments requiring attention. Both the updated forms and the accompanying guide are publicly accessible on the AMF website under the designated professional insurance sections.
00 Notice regarding the publication of a Familiarization Guide concerning new automobile insurance forms drafted in clear language On March 1, 2013, the Autorité des marchés financiers (the “AMF” or the “Authority”) posted on its website the following new automobile insurance forms, drafted in clear language: Q.P.F. no. 1 – Owners’ Form, and endorsements; Q.P.F. no. 5 – Complementary Insurance for Damage to Insured Vehicle Form (Replacement Insurance), and endorsement. To assist members of the automobile insurance industry with the adoption of these new forms, the AMF has developed a Familiarization Guide. It will help them better understand the forms. It covers the major items and the main amendments made to the forms that need to be understood. The Guide is available on the AMF website at www.lautorite.qc.ca, under Professionals/Insurance and financial planning/Insurers/Automobile insurance/AMF approved forms – Familiarization Guide. The new forms are available on the AMF website at www.lautorite.qc.ca, under Professionals/Insurance and financial planning/Insurers/Automobile insurance/AMF approved forms – Automobile insurance forms drafted in clear language. Additional information is available from: Benoit Vaillancourt Direction des normes prudentielles et des pratiques commerciales Autorité des marchés financiers Téléphone; 418 525-0337, poste 4593 Numéro sans frais : 1 877 395-0337, poste 4593 Courriel : benoit.vaillancourt@lautorite.qc.ca March 21, 2013