Professional liability insurance – Change of broker starting on April 1, 2018
On November 30, 2017, on the recommendation of the Professional Liability Insurance Committee, the Board of Directors decided to entrust BFL CANADA inc. with providing professional liability insurance brokerage services for the group basic plan and the group supplementary plan starting on April 1, 2018.
Questions and answers Question: Why did the OIQ decide to launch a competitive bidding process for professional liability insurance brokerage services?
Answer: The contract with the current broker (Lussier Dale Parizeau) will end on March 31, 2018 for the group basic plan (general practice or occasional private practice) and the group supplementary plan (private engineering practice). The OIQ’s objective is to ensure that members receive brokerage services that respond as adequately as possible to developments in the profession and the market. To achieve this, the Professional Liability Insurance Committee oversaw the competitive bidding process. After analyzing the bids received, the committee submitted its recommendations to the OIQ’s Board of Directors, which confirmed its choice (BFL CANADA inc.) at its meeting on November 30, 2017.
Question: Which broker should members in private practice do business with, if they have to renew their insurance in 2018?
Answer: Members have 3 options :
Question: When will the contract with the new broker come into force?
- If the insurance policy expires before or on March 31, 2018, Lussier Dale Parizeau (the OIQ’s broker until March 31, 2018) will send your renewal documents to you. On April 1, 2018, your file will be transferred to BFL CANADA, which will handle renewals for subsequent years.
- If the insurance policy expires in the period from April 1, 2018 through June 30, 2018, as an exception during this broker transition period, your insurance policy will be renewed for the next year by ENCON Group Inc., provided your situation has not changed. Thereafter, BFL CANADA inc., the new broker selected by the OIQ, will handle your file.
- If the insurance policy expires on or after July 1, 2018, your assurance will be renewed by BFL CANADA inc. For that purpose, BFL CANADA inc. (the OIQ’s new broker starting on April 1, 2018) will contact you directly about a month before the renewal date.
Answer: The contract with the new broker (BFL CANADA inc.) will come into force as of April 1, 2018.
Question: Does the change of broker involve a change of insurer?
Answer: No. The change of broker has no impact on the insurance provider, which is still ENCON Group Inc.
Question: What will happen to policies that were taken out with the current broker, Lussier Dale Parizeau, and are still in effect after April 1, 2018?
Answer: Starting on April 1, 2018, policies that were previously taken out with Lussier Dale Parizeau will be transferred to BFL CANADA inc. (the new broker), which will renew them. Remember that the insurer remains the same: ENCON Group Inc.
Question: What is a broker?
Answer: An insurance broker is an independent commercial agent that performs the services of an intermediary in a commercial transaction between an insurance company and end consumers. The mission of the insurance broker, which acts as the representative of the insureds, is to provide them with policies that are best adapted to their needs.
Question: What is the contact information for Lussier Dale Parizeau (the OIQ's broker until March 31, 2018)?
Lussier Dale Parizeau
3400 De Maisonneuve Blvd. West, Suite 700
Montreal, Québec H3Z 0A5
Tel. : 514 370-6735 or 1 855 256-5317
E-mail: email@example.comQuestion: What is the contact information for BFL Canada Inc. (the OIQ’s broker starting on April 1, 2018)?
BFL CANADA Risk and Insurance Inc.
2001 McGill College Avenue, Suite 2200
Montreal, Québec H3A 1G1
Tel.: 514 315-4529 or 1 833 315-4529