Le Lézard
Classified in: Business
Subjects: ECO, CPG

Winter of 2019 marked by periods of heavy precipitation - AMF temporarily eases its rules

MONTRÉAL, April 12, 2019 /CNW Telbec/ - This winter, Québec has experienced periods of heavy precipitation, resulting in in a large number of claims, many of them related to collapsed roofs and water infiltration. The individuals normally authorized to act as claims adjusters are already straining to meet the needs all the claimants. Rapid melting of the snow cover could cause flooding, which could make the situation even worse.

To support the industry and enable consumers affected by this situation to complete their claims more quickly, the Autorité des marchés financiers ("AMF") will allow, from April 13th to June 12th, 2019, persons authorized to act as a claims adjuster in another province or territory of Canada or persons who have held a claims adjuster certificate in Québec for at least five of the last seven years to join a Québec claims adjustment firm for the purpose of acting as claims adjusters, subject to certain conditions. During that same period, claims adjustment firm employees may, exceptionally, act as claims adjusters in Québec, subject to certain conditions.

The AMF will also allow the value of claims that may be processed by employees working by phone to be increased to $7,500 during the exemption period.

These measures stem from the Directive of the Autorité des marchés financiers pertaining to the definition and exclusive activities of claims adjusters, which allows claims adjustment firms to use the services of supernumeraries.

The AMF encourages claimants to contact their insurers to inquire about their rights and follow-up of their claims. In addition, information on the various steps involved in a claim, as well as a description of the complaint procedure available to insureds, can be found in the Filing an insurance claim section of the AMF website.

Agents from the AMF's Information Centre are available to answer questions from consumers of financial products and services and to help them in their dealings with insurers.

The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.

Twitter: @lautorite


SOURCE Autorité des marchés financiers

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News published on 12 april 2019 at 15:46 and distributed by: