Le Lézard
Classified in: Transportation, Business
Subject: CPG

Report concerning the sale of insurance products by dealers


MONTRÉAL, June 3, 2020 /CNW Telbec/ - The Autorité des marchés financiers (AMF) today published the 2016?2018 Insurer Disclosure Analysis Report ? The offering of insurance products by automobile and recreational and leisure vehicle dealers in Québec.  Using the picture of practices provided by this report, the AMF will, over the coming months, be able to measure the effects of new actions aimed at enhancing existing commercial practices in this market.

Findings

The data collected by the AMF exposed four main issues related to commercial practices:

"The AMF has undertaken efforts in recent years to bring this sector into line, including publishing multiple notices, establishing a round table and imposing penalties on specific dealers and an insurance firm," said AMF President and CEO Louis Morisset. "Based on the data collected by the AMF, those efforts have not yielded the desired results. Now that it has a more accurate picture of the market, the AMF is going to continue to strengthen its actions to correct persistent improper practices."

Actions to be taken

Planned actions will focus on four objectives:

The AMF will continue to closely monitor the market for insurance products offered by dealers. Annually collected data will be analyzed in order to track developments in this market.

A reminder to consumers

The AMF wishes to remind consumers that: 

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

Information:

Media only: 
Sylvain Théberge: 514-940-2176

Information Centre: 
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337

Website: www.lautorite.qc.ca
Twitter: @lautorite
Linkedln: Autorité des marchés financiers (Québec)

Report concerning the sale of insurance products by dealers (CNW Group/Autorité des marchés financiers)

 

SOURCE Autorité des marchés financiers


These press releases may also interest you

at 16:30
World Kinect Corporation invites you to participate in a conference call with its management team on Thursday, April 25, 2024, at 5:00 p.m. Eastern Time to discuss the company's first quarter 2024 results, as well as certain forward-looking...

at 16:30
Cheche Group Inc. ("Cheche" or the "Company"), China's leading auto insurance technology platform, today announced it has entered into a partnership with Beijing Houji Insurance Brokerage Co., Ltd. ("Beijing Houji"), an affiliate of Xiaomi...

at 16:30
Nuvve Holding Corp. (Nuvve) , a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform designed to enable electric vehicle (EV) batteries to store and resell unused energy back to the...

at 16:15
Werner Enterprises, Inc. , a premier transportation and logistics provider, will release its first quarter earnings on Tuesday, April 30, 2024, after the market close. The company will also hold a conference call to discuss the first quarter 2024...

at 16:10
Surf Air Mobility Inc. , a leading regional air mobility platform, today reported its fourth quarter and full year results. Please visit the Surf Air Mobility investor relations website at investors.surfair.com for more information and to listen to...

at 16:10
Power Solutions International, Inc. (the "Company" or "PSI") amended its $130 million uncommitted senior secured revolving credit agreement (the "Fourth Amended and Restated Credit Agreement"), with Standard Chartered Bank, as administrative agent...



News published on and distributed by: