The Panel of Experts on Automobile Insurance Contributions does not seek to change the insurance contributions proposed by the Société de l’assurance automobile du Québec (SAAQ) for the years 2025 to 2027.
Following a review of the SAAQ’s methodology in determining insurance contributions, data verification, and a public consultation, the panel advises no modifications to the suggested rates for the period. The panel deems the SAAQ’s proposal compliant with current laws and regulations, fair, and reasonable.
One suggestion in the SAAQ’s proposal is the introduction of three levels of driving experience for Class 6 motorcycle license holders, which the panel supports. The panel also endorses the SAAQ’s refined approach to calculating insurance contributions for commercial vehicles to more accurately reflect the risk associated with each vehicle category.
Additionally, the panel commends the SAAQ’s data collection and analysis over the past three years, which effectively reflects the risks related to remunerated passenger transportation.
“Québec’s automobile insurance fund is on solid ground. At the end of 2022, it had $13.5 billion in assets,” said panel chair Micheline Dionne. “When the fund was created in 2004, it was underfunded by more than $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.”
The panel aims to use its findings and recommendations, which are compiled in a report, to further the SAAQ’s ongoing development of the public automobile insurance plan, emphasizing safety, fairness, and strength.
As per the Act respecting the Société de l'assurance automobile du Québec, the SAAQ must seek the opinion of a panel of experts before modifying insurance contributions. The current lineup consists of Dionne, an actuary, life insurance specialist Dominique Faribault, and economist Bernard Turgeon.
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