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Distribution Guide

The distribution guide describes the product offered, states the nature of the guarantee and states clearly all exclusions from the guarantee. It specifies, among other information, the way in which claims are to be submitted by consumers and the time period for doing so.

Under the Act respecting the distribution of financial products and services (the Act), insurers and distributors have obligations and responsibilities regarding the preparation and the distribution of a guide intended for consumers.

In fact, the Act states that "an insurer may not offer a product through a distributor without first preparing a distribution guide and providing the distributor with a copy of the guide."

Furthermore, the Act stipulates that a distribution guide must be drafted in accordance with the rules set out in the Regulation respecting distribution without a representative (the “Regulation”). The insurer must file a compliance return with the AMF, which will ensure that the guide contains the information prescribed in the Act and in Schedule 4 of the Regulation and that it is consistent with the insurance policy clauses.

Fees are prescribed under the Regulation respecting distribution without a representative in order to ensure the financing of activities related to the examination of distribution guides.