October 21, 2021 Insurance Organization

Montréal – At a time when intelligent vehicles are growing in popularity, the Autorité des marchés financiers (the “AMF”) is releasing an issues paper on connected and automated vehicles (“CAVs”). Given the increasingly significant impact that CAVs will have on consumers and insurers in the years to come, and the repercussions on the overall operation of the Québec automobile insurance system, the AMF is seeking to deepen its knowledge of the various issues related to such vehicles.

“The arrival of CAVs on our roads serves as a reminder that the development of technological innovations extends into all fields of human activity, with repercussions that are providing much food for thought, particularly on accident liability,” said Louis Morisset, AMF President and CEO. “The diversity of the questions raised shows that CAVs are a concern not only for regulators but also for many stakeholders in our society, from the P&C insurance sector and auto industry to consumer associations,” added Mr. Morisset.

This AMF initiative is in keeping with its 2021–2025 Strategic Plan (pdf - 1 MB)This link will open in a new windowUpdated on April 23, 2021The 2021-2025 plan, which has the wholehearted support of the Advisory Board, not only establishes ambitious and engaging orientations and objectives but will help further a number of major initiatives implemented under the 2017-2020 Strategic Plan while taking into account issues raised in connection with recent changes in Québec’s financial services industry, including those resulting from the COVID 19 pandemic. objective of providing thought and action leadership on current and emerging issues. The issues paper released today aims to generate discussion and explore ideas and potential solutions for rethinking the future of mobility and smoothing the way for the development, testing and operation of CAVs.

In its role as regulator and in line with its mission to protect consumers of financial products and services, the AMF intends to respond proactively to the needs and new realities of consumers. Anyone interesting in submitting comments on the questions raised in this issues paper can do so by January 21, 2022. The document is available on the AMF website.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

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