December 18, 2017 13:30
While the year 2017 is nearing its end, we suggest you read or re-read the 10 articles most viewed on the website of the Journal of the insurance. If the eight car dealers pinned by the Authority have captured your attention, the projects of act 141, and 150, and the flooding that occurred in may of last year a little everywhere in Quebec, have also caused much ink to flow.
1 — The financial markets Authority shows car dealers
Administrative penalties for 92 500 $ have been imposed on eight car dealers to be offered automobile insurance products covering civil liability and damage caused to the vehicle, an act reserved exclusively to agents and brokers in damage insurance, registered with the Authority.
For more information : Eight auto dealerships pinned by the financial markets Authority
2 — The Authority hairpin Desjardins
TheAuthority of the financial markets has heavily penalised Desjardins financial Security and the Fédération des caisses Desjardins du Québec for breaches of the insurance Act and the Act respecting the distribution of financial products and services, so that the two entities have admitted to not have followed sound business practices.
To learn more : Smith sanctioned heavily by the AMF
3 — An insurer wins in Court of appeal
The Court of appeal gave reason to Intact Insurance in a dispute with a business of poultry processing, which has been the victim of a fire that destroyed a part of its processing. The judge had also recognised that the process followed by Intact was a copy in the folder.
For more information : Intact Insurance wins Court appeal against a company’s poultry processing
4 — The draft law 141 divides the industry
Bill 141, which had been expected for several years, was finally filed on the 5th October last, not without protests on the part of different industry groups. The bill account 488 pages, over 700 articles of the law, and resulted in changes including the Act respecting the distribution of financial products and services. The draft law provides for the integration of Rooms in theAuthority of the financial markets and manages the sale of insurance via the Internet, among others.
For more information : bill 141 : the two Rooms away, with the sale on the Internet framed
Bill 141 : the FSB regrets the weakening of the professional system
Bill 141 : the government is on the wrong track, according to the ChAD
Bill 141 : the Desjardins group shows to be satisfied
Bill 141 : the insurers direct damage rub their hands
Bill 141 : selling on the Internet without a representative permitted
The tabling of Bill 141 continues to divide the industry
5 — bill 150 raises the passions
The bill 150 filed in early November proposes that a firm can be defined as a dealer, the dealer must submit bids of at least four insurers belonging to different financial groups. Otherwise, the brokerage firm must amend its registration to the agency. This bill divides the industry.
For more information : brokers will need to offer the products of at least four insurers, has decided the government
Brokers of the notes come together to make their voices heard
Bill 150 : four, three or two insurers ? The Authority will decide !
A business broker is questions about the implementation of bill 150
Aviva, RSA and Desjardins appear in favour of bill 150
Intact judge the law project 150 » to the detriment of the brokerage «
Bill 150 : the condominiums shall constitute a fund to self-insurance
Bill 150 : The Alliance for a stronger brokerage fort denounces the «clear bias» for the insurers direct
6 — Sylvie Paquette at Intact
The former number one property and casualty insurance business of the Desjardins group in Canada, Sylvie Paquette, seat now on the board of directors ofIntact Insurance since last may.
For more information : Sylvie Paquette called to serve on the C. A. Intact
The debate on the limits of participation in a firm continues and leads to the creation of an alliance
Last February, the Journal of insurance has learned thatIntact Insurance has lobbied the ministry of Finance to amend the Act respecting the distribution of financial products and services to eliminate the limit of 20% stake in a brokerage firm. This initiative has also led to the creation of the Alliance for a stronger brokerage fort, a collection of nearly a hundred brokerage firms, which argue in favour of the proposal Intact.
For more information : Intact wants to abolish the limit of 20 % ownership in a firm
Aviva request the maintenance of the rule of 20 %
«The abolition of the rule of 20 %, which will mark the end of the independent brokerage «, is concerned Robert Bournival
The brokerage kingdom around the rule of 20 %… in 1987
RSA Canada requires in its turn the maintenance of the rule of 20 %
Rule of 20 % : two other insurers opposed the abolition
Thirteen firms unite to call for an end to the rule of 20 %
7 — insurers offer a protection against the floods two months before the floods that devastated the Quebec
For more information : Two insurers throw up at the same time a protection against the floods
Discussions are continuing between the TRAY and the government
Floods : insurers continue to amaze their customers… positively
8 — Steven Ross goes to another step in his career
After a career of 13 years with The Capital, Steven Ross, has left his position of CEO of the insurer. This is Jean St-Gelais , who took over.
For more information : Steven Ross leaves The Capital
9 — A hundred municipalities affected by floods
The floods that have affected more than a hundred municipalities in April and may last year have caused much ink to flow, especially because of the character. Several victims have been surprised to see that a protection against the flood waters had been added to their home insurance policy, while others are still struggling to get compensation from the part of the special programme of assistance to disaster victims.
For more information : Floods in Quebec : an update on the situation
Flood : 9 out of 10 Canadians are unaware of living in a risk zone
The support of the non-insured, a thorny subject
«The work will not be completed by Halloween «
The insurance industry mobilizes to help victims of the floods
Floods : the Authority has relaxed its rules to expedite the claims process
The recent floods cost several hundreds of millions of dollars to the canadian economy
10 — Deslauriers + Associates continues its growth strategy
Firm in damage insurance Deslauriers + Associates continues its growth strategy by acquiring the firm of Carl Couture, Raynald Rochette and Pelletier, Couture Rochette & Associés, who all want to plan for their exit.
For more information : Couture Rochette & Associés will be part of Deslauriers + Associates