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AllState rebuked by the Authority



July 19, 2019 11:30

Photo : Freepik

AllState Canada has received orders from theAutorité des marchés financiers for various deficiencies related to the amendment of the protection of insurance policies.

The Authority directs the insurer to put in place control measures to ensure to obtain the written consent of the holders of insurance policies prior to the change of coverage of their insurance policy.

In all, 107 insured quebecers have seen the protections of their insurance policy or changed endorsement withdrawn without being notified.

AllState will have to put in place an action plan which will include the identification of all persons who were holders of insurance policies changed without their consent. The notice sent to these clients only suggested that they contact their agent.

The insurer must also submit to the Authority a notice that will be sent to all holders whose policies have been changed. This notice shall indicate that the amendment is null and void and that they have the ability to make a claim in the event of a disaster that would have been covered without the removal of the protection.

This is a complaint made to the Authority which has placed the controller on the track, ” which immediately triggered an investigation of the insurer “.

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