23 February 2018 11:30
François Bonnardel | Photo : Denis Méthot
The Coalition Avenir Québec (CAQ) gives his support for the liberal government in its efforts to integrate the Chamber of damage insurance and the Chamber of financial security to thefinancial markets Authority.
The Journal of insurance met with François Bonnardel, member for Granby for the account of the party, but also a spokesperson for Financial matters. Mr. Bonnardel, however, argues that this position does not constitute a repudiation of the work they have done in recent years.
«It does not work with the two Rooms»
«It has not been demonstrated that it was not working with the two Rooms, he commented. The two Rooms were on the job. There has been as many for as against, but in my DNA, I think that a one-stop shop will facilitate the approach of a citizen who feels aggrieved and who will go knock on a single door. «
He adds that under the auspices of the Authority, » it shall come to pass in a consolidation that will allow to be even more efficient. At least that is what I hope. I am confident that the Authority will ensure that everyone finds his account, including the numbers of the two Rooms that will be incorporated into the Authority «.
Four proposals : «this is ridiculous ! »
Mr. Bonnardel said also object very strongly to the provision of bill 150 which would require brokers to submit bids from four different insurers to their customers. He believes that retaining this requirement could even put in danger the sustainability of the broker.
«The four proposals, this is ridiculous, he repeated several times. It would take a crazy amount of time. Everyone agrees, it is almost impossible. Anyway, that application four submissions in less than a year of monk ? It is sure that we will fight to push that back to two or three. I believe that two, if not three, it is able to offer a choice to customers and the possibility of choosing by themselves. «It says to trust the Authority to define by regulation the number of proposals.
«It must be a certified representative for the sale online»
While being favorable to the sale of insurance online, Mr. Bonnardel was stowed away in the camp of those that require the involvement of a certified representative to advise consumers. He says that this is essential to ensure consumers that they are getting the proper protection for their needs.
His message and that of those who claim the presence of a certified representative during an online purchase seems to have been heard by the minister of Finance. On 21 February, Carlos J. Leitão said at the national Assembly that he was open to amend its draft law to ensure that if a buyer wants to talk to a person when purchasing insurance online, it will have to be a certified representative. It is a gain which is looked forward to Mr. Bonnardel, even if the battle is not yet won, » he said.
Rule of 20 % : one keeps the same recipe, says Bonnardel
The mp caquiste rises also against the articles to change the provisions relating to the percentage of the equity shares of 50%, which benefited brokerage firms. The act plans to reduce this figure to 20 %, but the congressman is in total disagreement with the intentions of the government.
«The refinancing will be extremely cumbersome, if not impossible, he argues. No broker has told us that he is imposing a volume X, because thatIntact Insurance is a 50% shareholder of the firm. When the customer wants to get insurance, it relies on the broker which logically is going to call his insurer and two or three others. The broker is able to explain to customer the different products and what appears to be the most advantageous for him. «
The member for Granby said do not see any problem in that, one remains with a participation rate of 50 %. «It’s going to need that one explained to me and that reassures me. All the dealers I’ve talked to are wondering how they will be able to refinance and buy out the equity shares held by the insurers if the requirement was adopted. «
To the defense of brokers
François Bonnardel also defends brokers, of which it is the client himself. It was also said more than once by the parliamentary commission.
«The brokers have their place in the insurance market in Quebec for decades and decades in cities and villages. It is true that the business models have changed. I’m of the school that still thinks that it is not easy to buy the damage insurance. After years of experience, I would not be sure yet of my case by going on the Internet. «
A close relationship with the broker
He adds that in order to protect the largest purchase of his life, his house, speak to a certified representative or broker remains for him is the best option. «Even for my car insurance, I want to talk to my broker. I’m not knocking the big insurers, but with the brokers, there is this closeness that you’ll never have with the insurer. I believe that the broker in good and due form and the certified representative, will always have their place in the insurance market in Quebec. «
The mp caquiste still think that this are the big insurers who have the most to gain with this reform to the detriment of brokers and small firms, whose market share is shrinking.
Opening to the affiliated broker
A parliamentary committee, theAlliance for a stronger brokerage fort has proposed the creation of a third business model in the field of brokerage, or the affiliated broker. Mr. Bonnardel believes that this is not a bad idea even if the minister Leitão has shown little openness and that no other combination of insurers has not publicly endorsed this proposal.
He said, however, to understand the minister wanting to keep only two models, the agency and the independent broker. He said that the CAQ will not fight body and soul for this new track that would be the affiliated broker. He will try instead to find the balance for insurers who wish to have an involvement with brokers.