New Automobile Insurance Endorsement Form Q.E.F. No. 5b for Short-Term Leased Vehicles

Notice regarding the coming into force on March 1, 2014 of a new automobile insurance endorsement form: Q.E.F. No. 5b – Leased vehicles for a period of less than one year (By unnamed lessees) Under section 422 of An Act respecting insurance, R.S.Q., c. A-32, the Autorité des marchés financiers (the “AMF” or the “Authority”) may prescribe the forms necessary for the application of this Act and must approve the form and the conditions of insurance policies relating to the ownership or use of motor vehicles. To address the needs expressed by several insurers and reflect changing practices, the Authority is publishing a new automobile insurance endorsement, Q.E.F. No. 5b – Leased vehicles for a period of less than one year (By unnamed lessees). This new endorsement, unlike endorsement Q.E.F. No. 5c – Rented automobile endorsement (Unspecified lessees - short term only), will enable insurers to indicate the maximum short-term lease period covered by the endorsement. Therefore, insurers will have greater flexibility to determine the automobile lease period and be able to better respond to insureds’ needs and enhance their own operational efficiency. This form may be used by all insurers as of March 1, 2014. The form is available on the AMF website at www.lautorite.qc.ca under Insurance and financial planning / Insurers / Automobile Insurance / AMF approved forms. Further information Further information is available from:
Benoit Vaillancourt
Direction de l’encadrement prudentiel des institutions financières Autorité des marchés financiers Telephone: 418-525-0337, ext. 4593 Toll-free: 1-877-395-0337 E-mail: benoit.vaillancourt@lautorite.qc.ca January 9, 2014