5 September 2017, 13:30
Photo : Freepik
In the framework of the consultation on the rules governing the insurance of condominiums, the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) has informed the ministry of Finance of its support to the recommendations of the insurance Bureau of Canada (IBC).
In a letter to the attention of Carlos J. Leitão, minister of Finance, and the Journal of insurance has obtained a copy, the RRCAQ welcomes the willingness of the government to bring legislative amendments to the supervision of the insurance of the condominium, as well as the two great principles on which these changes are based : the maintenance of the integrity of the buildings under the responsibility of the syndicate of co-owners and the implementation of clear rules for the benefit of the owners.
An impossible choice for the broker
The collection also presents in the mail several observations, recalling that his approach focuses primarily on the protection of consumers ‘ interests. It therefore wishes to draw the attention of the legislature on the amendment of certain articles which might prevent the insurance brokers of damage to fulfill their ethical obligations, and, ultimately, go against the interests of the consumer.
Also, it points to Section 1. ii which could place the broker in front of an impossible choice, namely : to provide a customized protection to its client so as to meet its ethical obligations to the client or to comply with the civil Code. «This choice is not sustainable,» said RCCAQ, which recommends to include provisions that allow some flexibility in the risks required to be covered.
An optional subscription to the officers and directors
In addition, the RCCAQ believes that the purchase of protection in the liability insurance for officers and directors, however, should remain optional, so as to allow the insurance broker of the damage to keep a certain latitude and to respond adequately to the specific needs of its customers.