In force: 2019-06-13
27. The following do not require the Authority’s authorization under this Act: (1) a professional syndicate which, in order to carry on insurer activities, establishes and administers a special fund in accordance with subparagraph 1 of the second paragraph of section 9 of the Professional Syndicates Act (chapter S-40);
(2) a person who, in terms of insurance, enters only into contracts of additional warranty under which it gives an undertaking to another person to directly or indirectly assume any portion of the cost of repairing or replacing property or any part of the property in case of defect;
(3) an insurer that, in Québec, delivers only damage insurance contracts through a firm acting through a special broker governed by the Act respecting the distribution of financial products and services (chapter D-9.2), if the insurer has no establishment in Québec and does not publicize its business in Québec;
(4) an employer that establishes an uninsured employee benefit plan for the benefit of its employees; and
(5) each of the persons in a reciprocal union, if the Authority’s authorization has been granted to the union.
An uninsured employee benefit plan is a plan that is accessory to a contract of employment and by which an employer undertakes to pay a benefit to an employee or a beneficiary designated by the employee if a risk of the nature of risks covered by insurance of persons occurs.