All posts tagged: Insurance

Quebec financial watchdog warns consumers over P2P insurance

Stung by criticism that it has at times acted too late to stop unsound practices, Quebec’s financial watchdog recently warned consumers to be wary of peer-to-peer insurance offerings even though the digital sharing platform has yet to make a formal entrance in Canadian soil.

Quebec’s financial regulator, the Autorité des marchés financiers (AMF), is “urging” Quebecers to be “cautious” when purchasing P2P insurance products or services. While in favour of the development of new financial technologies, the AMF warns consumers that they could be exposed to losses that would not be covered under current compensation schemes.