D-9.2, r. 16.1 - Regulation respecting Alternative Distribution Methods

Section 29 Disposition versions

2020-05-01

29. The summary must present the following information:

(1)  the insurer’s name and contact information;

(2)  the client number of the insurer registered in the Authority’s register of insurers and the Authority’s website address;

(3)  the name and type of product offered;

(4)  the eligibility criteria;

(5)  the name and contact information of the distributor that offers the product;

(6)  the product coverage, exclusions and limitations;

(7)  any other specific clauses that may affect the insurance coverage;

(8)  warnings about the consequences of misrepresentations and concealment;

(9)  the client’s right of cancellation, its duration and the procedures for exercising it;

(10)  the rules applicable to the temporary insurance, if applicable;

(11)  the information that the client must be made aware of in accordance with section 434 of the Act respecting the distribution of financial products and services (chapter D-9.2);

(12)  the premiums and other fees and expenses, including the applicable taxes, or, if an exact amount cannot be indicated, the criteria used to determine it;

(13)  an indication that the premium is fixed or likely to vary over time;

(14)  the insurer’s website address providing access to the information on where the client can file a complaint with the insurer and a summary of the complaint processing policy provided for in the second paragraph of section 52 of the Insurers Act (chapter A-32.1);

(15)  the manner in which the specimen of the policy or insurance certificate can be accessed on the insurer’s website.

Where the policy provides for a formula to calculate the portion of the refundable premium in the event of cancellation, the insurer must indicate as such in the summary and include an example of its application.

M.O. 2019-05, s. 29; M.O. 2020-07, s. 7.

2019-06-13

29. The summary must present the following information:

(1)  the insurer’s name and contact information;

(2)  the client number of the insurer registered in the Authority’s register of insurers and the Authority’s website address;

(3)  the name and type of product offered;

(4)  the eligibility criteria;

(5)  the name and contact information of the distributor that offers the product;

(6)  the product coverage, exclusions and limitations;

(7)  any other specific clauses that may affect the insurance coverage;

(8)  warnings about the consequences of misrepresentations and concealment;

(9)  the client’s right of cancellation, its duration and the procedures for exercising it;

(10)  the rules applicable to the temporary insurance, if applicable;

(11)  the information that the client must be made aware of in accordance with section 434 of the Act respecting the distribution of financial products and services (chapter D-9.2);

(12)  the premiums and other fees and expenses, including the applicable taxes, or, if an exact amount cannot be indicated, the criteria used to determine it;

(13)  an indication that the premium is fixed or likely to vary over time;

(14)  the insurer’s website address providing access to the information on where the client can file a complaint with the insurer and a summary of the complaint processing policy provided for in the second paragraph of section 52 of the Insurers Act (chapter A-32.1);

(15)  the manner in which the specimen of the policy or the insurance certificate can be accessed on the insurer’s website.

Where the policy provides for a formula to calculate the portion of the refundable premium in the event of cancellation, the insurer must indicate as such in the summary and include an example of its application.

M.O. 2019-05, s. 29.

Not in force

In force: 2019-06-13

29. The summary must present the following information:

(1)  the insurer’s name and contact information;

(2)  the client number of the insurer registered in the Authority’s register of insurers and the Authority’s website address;

(3)  the name and type of product offered;

(4)  the eligibility criteria;

(5)  the name and contact information of the distributor that offers the product;

(6)  the product coverage, exclusions and limitations;

(7)  any other specific clauses that may affect the insurance coverage;

(8)  warnings about the consequences of misrepresentations and concealment;

(9)  the client’s right of cancellation, its duration and the procedures for exercising it;

(10)  the rules applicable to the temporary insurance, if applicable;

(11)  the information that the client must be made aware of in accordance with section 434 of the Act respecting the distribution of financial products and services (chapter D-9.2);

(12)  the premiums and other fees and expenses, including the applicable taxes, or, if an exact amount cannot be indicated, the criteria used to determine it;

(13)  an indication that the premium is fixed or likely to vary over time;

(14)  the insurer’s website address providing access to the information on where the client can file a complaint with the insurer and a summary of the complaint processing policy provided for in the second paragraph of section 52 of the Insurers Act (chapter A-32.1);

(15)  the manner in which the specimen of the policy or the insurance certificate can be accessed on the insurer’s website.

Where the policy provides for a formula to calculate the portion of the refundable premium in the event of cancellation, the insurer must indicate as such in the summary and include an example of its application.

M.O. 2019-05, s. 29.