D-9.2, r. 5.1 - Regulation respecting damage insurance brokerage

Section 2 Disposition versions

2019-12-13

2. A damage insurance broker who offers a product belonging to one of the classes referred to in the first paragraph of section 1 directly to the public must, before inquiring into the client’s situation in accordance with the first paragraph of section 27 of the Act respecting the distribution of financial products and services (chapter D-9.2), disclose to the client the name of any insurer with which the aggregate of risks placed represents 60% or more of the total volume of risks placed in personal-lines damage insurance by him as an independent representative or by the firm or the independent partnership on behalf of whom he is acting, calculated on the value basis of written premiums annualized as at 31 December of each year, as well as this percentage.

Brokers who make the disclosure referred to in the first paragraph are exempted from the following obligations:

(1)  the obligation under section 4.8 of the Regulation respecting information to be provided to consumers (chapter D-9.2, r. 18) to disclose the business relationship referred to in the second paragraph of section 4.10 of the Regulation; and

(2)  the obligation under section 4.13 of the Regulation to confirm in writing the disclosure referred to subparagraph 1.

M.O. 2019-07, s. 2.

Not in force

In force: 2019-12-13

2. A damage insurance broker who offers a product belonging to one of the classes referred to in the first paragraph of section 1 directly to the public must, before inquiring into the client’s situation in accordance with the first paragraph of section 27 of the Act respecting the distribution of financial products and services (chapter D-9.2), disclose to the client the name of any insurer with which the aggregate of risks placed represents 60% or more of the total volume of risks placed in personal-lines damage insurance by him as an independent representative or by the firm or the independent partnership on behalf of whom he is acting, calculated on the value basis of written premiums annualized as at 31 December of each year, as well as this percentage.

Brokers who make the disclosure referred to in the first paragraph are exempted from the following obligations:

(1)  the obligation under section 4.8 of the Regulation respecting information to be provided to consumers (chapter D-9.2, r. 18) to disclose the business relationship referred to in the second paragraph of section 4.10 of the Regulation; and

(2)  the obligation under section 4.13 of the Regulation to confirm in writing the disclosure referred to subparagraph 1.

M.O. 2019-07, s. 2.