Québec public invited to voice opinions on SAAQ’s contribution amendments

Québec public invited to voice opinions on SAAQ’s contribution amendments | Insurance Business

Québec public invited to voice opinions on SAAQ’s contribution amendments

The Panel of Experts on Automobile Insurance Contributions (Conseil d’experts sur les contributions d’assurance automobile) is inviting the Québec public to voice their opinions on the amendments proposed by the Société de l’assurance automobile du Québec (SAAQ) to its auto insurance contributions.

The SAAQ proposed new insurance contribution changes for the years 2022 to 2024. In a release, the insurer explained that it plans to remit over $1.158 billion back to its customers, which benefits over 6.4 million Quebeckers – the move translates into about $181.11 in savings per driver, the insurer noted.

The remittance will be in the form of advanced payments to customers’ insurance contributions for the years 2022 and 2023, inclusive of insurance tax. In addition, driver’s license holders will only have to pay the appropriate fees for renewal, as well as for additional costs related to demerit points under their fille, if applicable.

By law, the Crown corporation has to obtain the opinion of a panel of experts before it can make any regulatory changes. The panel will review the proposal and check if the data submitted by the insurer in its filings supports the regulatory amendments. The panel also has to hold a public hearing on the matter as part of the approval process.

Those interested in submitting a brief for the public hearing may do so through the Québec government’s public consultation platform, under the provincial government’s official website. The deadline for submissions is May 21, 2021.

Anyone who submits a brief on the SAAQ’s proposed amendments to insurance contributions may speak at the virtual public hearings, which are set to take place on June 01, 2021.