Under sections 76 and 83 of the Act respecting the distribution of financial products and services, firms, representatives and independent partnerships are required to subscribe for and maintain professional liability insurance. In addition, this insurance contract must be consistent with the regulatory requirements of section 17 of the Regulation respecting the pursuit of activities as a representative and section 29 of the Regulation respecting firms, independent representatives and independent firms.

A new Professional liability insurance contract drafting Guide (pdf - 202 KB)This link will open in a new window is now available.

We hope this new tool will help and assist insurers, firms, independent partnerships and representatives prepare professional liability insurance contracts that comply with the Act respecting the distribution of financial products and services and its regulations.