AMF reaches agreement with St. Paul Fire and Marine

The Autorité des marchés financiers (AMF) has reached an agreement with St. Paul Fire and Marine Insurance Company, after the insurer failed to properly file its statistical data with the regulator.
The insurer was ordered to pay a $35,000 fine and implement an action plan, developed with the AMF, to ensure it files its statistical data properly.
The AMF learned on Nov. 19, 2009, that St. Paul had failed to provide the Groupement des assureurs automobiles (GAA) with the statistical data and information referred to in the Automobile Insurance Act in the format indicated by the Automobile Statistical Plan (ASP).
The insurance company was required to provide information about its automobile insurance in Quebec for 2006 through 2008, and January 2009 through to October 2009.
St. Paul implemented an action plan to make the necessary changes to ensure that the data it provides to and files with the GAA under the ASP are compliant.