The abundant rainfall received in Quebec this winter are forcing thefinancial markets Authority to relax its rules to allow the use of experts in claim supernumerary. The easing is temporary and is in force since April 13, and will remain until 12 June next.
The Authority reports that a significant number of claims were submitted to insurers, ” many of which are related to collapses of roofs, and water infiltration “.
“The persons normally authorised to act as the claims adjusters are already struggling to meet the needs of all the people. A rapid melting of the snow cover is a potential risk of flooding that could exacerbate the situation, ” says the regulator.
The relaxed rules
As well, the experts claim of other provinces or territories or a person who has been a holder of a certificate of a claims adjuster for at least five of the past seven years are allowed to join a quebec cabinet to carry out the activities of a claims adjuster. An employee of a firm may also, ” exceptionally, and under certain conditions, act as a claims adjuster in Quebec “.
The relaxed rules of the Authority specify that the firm that has to resort to the supernumerary must take ” full responsibility for the acts [they ask] in the framework of the exemption “.
The company must also ensure they hold liability insurance that complies with the requirements laid down.
Supernumeraries shall be assigned a claims adjuster, ” who will be responsible for the submission once the exemption period is complete “.
The value of claims that may be processed by employees on the phone has been increased to $7,500.
Firms employing experts in the disaster supernumerary must notify the financial markets Authority.
Louis Morisset had warned the industry
During a speech made in the course of the Day property and casualty insurance 2014, Louis Morisset, president and general manager of the Authority, said he was concerned that there are insufficient claims adjusters for insurers to cope with a major disaster.
A year later, Mr. Morisset was found that few changes had been made to correct the situation. “We want the industry awakens itself to such issues before we make ourselves. Whether in insurance or elsewhere, we need an industry-wide awake. We must have a dialogue on good foundations. If the industry turns a deaf ear to these realities and offers no solutions, it creates more issues, ” he said in the Journal of the insurance.