QUÉBEC, July 10,
2024 /CNW/ - The Panel of Experts on Automobile
Insurance Contributions releases its report on the insurance
contributions proposed by the Société de l'assurance automobile du
Québec (SAAQ) for 2025 through 2027.
After reviewing the approach taken by the SAAQ to determine
insurance contributions, verifying the data used in support of the
proposed amendments and holding a public consultation, the Panel of
Experts does not recommend any changes to the insurance
contributions proposed by the SAAQ for 2025 through 2027. The
Panel considers that the SAAQ's proposal complies with the laws and
regulations in effect and is fair and reasonable.
Among the SAAQ's proposed amendments, the Panel of Experts
welcomes the initiatives taken to oversee motorcycle driving and
the creation of three levels of driving experience for Class 6
license holders.
The Panel also welcomes the SAAQ's efforts to refine its method
of calculating the insurance contributions for commercial vehicles
so that their rates reflect the risk represented by each insured
vehicle category as accurately as possible. In addition, the Panel
commends the SAAQ data collection and analysis over the past three
years that have resulted in a proper reflection of the risks
related to remunerated passenger transportation.
Main Issues
The Panel of Experts' report focuses on four main issues:
financing the public automobile insurance plan, funding, road
safety and customer service. It contains 41 observations
and recommendations.
Numerous subjects are addressed in the report, including demerit
points, license holder state of health and driving ability
assessment, photo radar, alcohol and legal and illegal drugs,
newcomer information and awareness, on-board touch screens and
entertainment systems, driver-assistance systems and autonomous
vehicles, as well as road safety publicity campaigns.
Safety, Fairness and Strength
"Québec's automobile insurance fund is on solid ground. At the
end of 2022, it had $13.5 billion in
assets. When the fund was created in 2004, it was underfunded
by more than a $600 million. Over the last five years, the
fund has posted a surplus that has enabled the SAAQ to remit
$2 billion to Québec motorists," said the Panel Chair,
Micheline Dionne.
The Panel of Experts hopes that its observations and
recommendations will contribute to the SAAQ's continued development
of the public automobile insurance plan across its three
characterizing aspects which are safety, fairness and strength.
About
Under the Act respecting the Société de l'assurance
automobile du Québec, before amending insurance contributions,
the SAAQ must obtain the opinion of a panel of experts formed for
this purpose. The SAAQ published these amendments on March
20, 2024, in a discussion document entitled Proposed Insurance
Contributions for 2025-2027.
The Act respecting the Société de l'assurance automobile du
Québec requires that the Panel of Experts be comprised of
three members representing the actuarial, financial and insurance
sectors. The three members were Micheline Dionne, actuary, who served as Chair,
Dominique Faribault, life insurance
specialist, and Bernard Turgeon,
economist.
SOURCE Conseil d’experts sur les contributions d’assurance
automobile