Group Insurance: Student unions have requested the minister to intervene

A group of 56 Quebec student unions are seeking government intervention to put an end to the uncertainty surrounding the future of their group insurance plan.

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The Autorité des marchés financiers (AMF) recently announced its intention to make changes in the process of enrolling students in their insurance, provoking protests in the student body.

According to student unions, the major insurance company is seriously considering terminating its contracts, which could result in the loss of coverage of more than 200,000 students at CEGEPs and universities from September.

Not guaranteed

The AMF announced in the middle of the week that it was temporarily suspending the application for action planned for September 2022 to re-examine the file. At a press conference, student body representatives said they were only half reassured by the development.

“We are concerned that the group will not be able to maintain insurance plans for many years to come. With the response from AMF on Wednesday, it has not settled at all.

The student body has asked Minister Daniel McCann to set up a neutral negotiating committee, saying she does not trust the consultation process initiated by AMF and fears her conclusions will be “pre-written”.

Consent

In a press release this week, the regulator called for action to be taken because insurance companies are not “sufficiently respected” for the responsibility of looking at customer information compliance when they join a group insurance product. The current membership mode, which is automatic with the right of withdrawal, has nothing to do with the dispute.

However, more than 80,000 eligible students will withdraw from the plan each year, with student representatives saying the current system will work to ensure affordable prices for members.

“We invite all communities to participate in the consultation process and for dialogue. AMF is independent, we are going to allow them to re-examine the file and we are going to monitor the situation carefully, ”said Minister McConnell’s office.