Regulatory Alerts2022-04-12
Added · Updated
Notice to All Damage Insurers in Québec Regarding a Pricing Practice for Subscription Insurance Policies
The Autorité des marchés financiers (AMF) has ordered all authorized Québec damage insurers to discontinue the Best Terms Pricing practice for subscription policies by January 1, 2023. The regulator determined that this uniformly higher pricing model contravenes the Insurers Act’s fair treatment mandate. Insurers failing to comply by the deadline will face enforcement actions under applicable laws.