Regulatory Alerts2018-11-27
Notice on March 1, 2019 Amendments to Automobile Insurance Form Q.P.F. No. 5
The Autorité des marchés financiers has amended automobile insurance form Q.P.F. No. 5 to standardize complementary vehicle damage coverage and align it with dealer sales practices. The revised form introduces a mandatory cover page caution, recalculates indemnities based on the primary insurer's actual cash value, eliminates the dealer-specific replacement option, and adds a retroactive termination clause for total losses. All Québec automobile insurers must adopt the updated form by March 1, 2019, while maintaining existing policy commitments and progressively phasing out the discontinued option during the transition period.
Share