Regulatory Alerts2013-02-28
Notice regarding the coming into force on March 1, 2014 of automobile insurance forms Q.P.F. no. 1 and Q.P.F. no. 5, and their endorsements, drafted in clear language
The Autorité des marchés financiers has approved revised clear-language automobile insurance forms Q.P.F. no. 1 and Q.P.F. no. 5, along with their endorsements, to improve consumer understanding of coverages, exclusions, and claims settlements. All automobile insurers must implement these structurally revised forms by March 1, 2014, ensuring that pre-existing contracts retain their original scope and commitments. Insurers failing to distribute the updated forms after this date cannot unilaterally reduce their obligations or increase insureds' responsibilities under existing policies.
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