Insurance Predictions 2018: Legislative Changes To Modernize The Insurance Industry In Quebec

Legislative changes should bring Quebec in line with other jurisdictions, and bring about a more competitive market among insurers, to the benefit of consumers.

In the fall of 2017, the Quebec government introduced two long-awaited bills that will bring about extensive reforms to the insurance industry in Quebec.

The new regime would see the Canadian province open the way for insurance firms to offer products and services online, without the assistance of a broker or agent. It is still unclear whether the requirement will apply to all types of policies — namely property & casualty and life & health. In any event, consumers will have a right to a 10-day cooling-off period, during which they can cancel insurance policies contracted online.