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Insurance generates almost 80 % of the complaints filed by consumers to the Authority


Hubert Roy

March 29, 2018 11:30

Photo : Freepik

The complaints made by the consumers with theAuthority of the financial markets have caught the attention of the parliamentarians during the study, article by article, of bill 141, to the point that two blocks of discussion was spent on this.

The Authority has been invited to unveil statistics on the processing of these complaints. An analysis of the Journal of insurance filings reveals that approximately 78 % of complaints filed by consumers with the regulator as they relate to insurance issues.

3 500 complaints from 2012 to 2017

Thus, at the request of parliamentarians, and particularly the deputy of the pq ‘s Nicolas Marceau, the Authority has filed, on 13 march, a table summarising the number of complaints it receives from consumers. In total, from 2012 to 2017, the Authority has received 3 491 complaints. Of this number, 1 728 were treated. 1 763 other were not selected for a subsequent stage of processing.

The parliamentarians were however required clarification on these figures, seeking to know in what business segment the consumers were filing complaints. Two new tables have been presented on 15 march, one for the insurance sector, the second for the other fields under the aegis of the regulator, which includes securities, derivatives and trusts, in particular.

2 103 complaints in insurance from 2013 to 2017

It is the insurance sector, which dominates in terms of consumer complaints. From 2013 to 2017, in five years, the Authority has received 2 103 complaints related to insurance. The other sectors under the supervision of the regulator amounted to $ 608.

Thus, if we remove the complaints filed in 2012, given that the tables submitted have not the same period of comparison, it is discovered that 78 % of consumer complaints that have affected the insurance from 2013 to 2017. 2 103 2 711 complaints filed during the past five years.

The Authority has not wanted to comment on the debates of the parliamentarians. His spokesman, Sylvain Théberge , however, has shed light on the proportion of complaints involving the insurance industry.

“If the insurance industry is receiving more complaints, it is simply due to the volume of fonts. Each individual is often provided for several aspects of his life. Therefore, it goes without saying that the volume generates more complaints. “Mr. Thompson also stated that the number of complaints does not vary greatly from year to year.

Grassroots conciliation, mediation often denied

The tables submitted by the Authority to the Committee on public finance, they are finding that the conciliation offered by the regulator to resolve complaints between a consumer and a subject at a good rate of success. It is not the same for the cases where mediation is proposed.

Thus, conciliation has been offered 1 381 complainants from 2012 to 2017. In 78% of cases, it has been successful. In insurance, for the period from 2013 to 2017, this success rate is 76 %. It is 81 % for the other sectors under the supervision of the Authority, from 2013 to 2017.

82 % of refusal of the mediation

For the mediation, 347 complainants are offered this option from 2012 to 2017. This is 82 % of the people who have rejected, which indicates that the courts have had to decide the 286 cases where they have not chosen the option of mediation during the last six years. The refusal rate is similar in insurance, to 80 %, from 2013 to 2017, and for other sectors, where the refusal rate is 85 %, also from 2013 to 2017.

The Authority also stated that it does not account for the rate of success of mediation when it is accepted by the parties. “However, the voluntary commitment of the parties in a mediation, we can safely say that the parties are quite willing to pay “, one can read in the footnotes of one of the tables.

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