Regulatory Alerts2019-10-11
Notice Regarding the October 10, 2019 Coming into Force of Québec Automobile Insurance Policy Form No. 2 and Its Endorsements
The Autorité des marchés financiers (AMF) has issued a notice mandating the October 10, 2019 implementation of Québec Automobile Insurance Policy Form No. 2 for drivers who do not own vehicles but borrow or rent them. The new policy provides three core protections covering bodily and property damage caused by the vehicle, all-peril damage to the rented or borrowed vehicle, and associated defence costs. Insurers must attach four specified endorsements and strictly adhere to the AMF-published form, including its icons and margin text, or face regulatory enforcement actions.
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