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ARTICLE · 25 JULY 2019

Online Distribution Of Insurance: A New Framework For Québec

Stikeman Elliott LLP
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On June 13, 2019, the main provisions of the new Québec Insurers Act and amendments to the Act respecting the distribution of financial products and services ("Financial Products Act")

CanadaInsurance
Catherine Jenner
Catherine Jenner
Stuart Carruthers
Stuart Carruthers
Fabian Firas Bargout
Fabian Firas Bargout
Andrew Cunningham
Andrew Cunningham
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On June 13, 2019, the main provisions of the new Québec Insurers Act and amendments to the Act respecting the distribution of financial products and services (“Financial Products Act”) came into force. Among other things, these provisions set out the regulatory requirements for insurers and insurance intermediaries selling insurance online in Québec (online insurance has been sold in Québec for many years, but without formal regulation).1

The finalized Regulation respecting Alternative Distribution Methods (“Online Insurance Regulation”) sets out details of the new obligations on insurers and insurance intermediaries. The draft regulation (“Draft Regulation”) that was published in 2018 has undergone a number of changes in response to industry comments.

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