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.
Also, the new rules would impose stricter demands on brokerage
firms dealing in damage insurance. Firms will be required to offer
policies from at least four insurers belonging to different
financial groups. In the event they cannot, they will have to show
the regulator that they made every effort to do so, failing which
they will have to change their registration to insurance
