New Quebec Insurance Regulation Comes Into Force

On September 9, 2009, most of Quebec's new Regulation under the Act respecting insurance came into force. Replacing the former Regulation respecting the application of the Act respecting insurance, which was originally adopted in 1982, the new regulation implements a number of important regulatory changes, including simplified disclosure requirements and harmonization with certain parts of other Canadian provincial insurance regimes. The key regulatory changes include the following.

Classes of insurance

The definitions of different classes of insurance have been harmonized with certain other Canadian jurisdictions and now correspond to the classes agreed in 2002 by the Canadian Council of Insurance Regulators. (Sections 11 to 28)