Quebec broker association expresses support for Bill 141

The Regroupement des cabinets de courtage d’assurance du Quebec (RCCAQ) has expressed its support for Bill 141, months after suggesting the bill could potentially lead to “disastrous consequences” for consumers.

RCCAQ initially balked at the bill, which would have allowed consumers to purchase insurance online without consulting an intermediary, such as a broker. But the bill was amended in March, and will now require that consumers who purchase insurance online have the ability to speak to certified representatives if they require assistance.

“Bill 141 does not go far enough in this regard,” RCCAQ chair Christopher Johnson said in a news release. “Nevertheless, it does have the merit of putting benchmarks in place that will enable us to continue our regulatory work.”

Among other measures, the bill would also make the Autorite des marches financiers (AMF) the sole regulator of the insurance industry in the province, which RCCAQ believes would eliminate confusion for insurance professionals and the public.

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