The Panel's mandate is to review the approach taken and the data used by the Société de l'assurance automobile du Québec in support of the contemplated regulatory amendments to insurance contributions. The Panel must also hold a public consultation on these amendments with the publication of a notice in the Gazette officielle du Québec and in, at least, one French-language and one English-language daily newspapers of its choice.
Within the framework of its mandate, the Panel of Experts must notably:
- review the rating criteria for insurance contributions adopted by the Société and ascertain that they respect the principles of self-financing of the plan, of indemnification by road vehicle users, of equity and of administrative feasibility;
- confirm the total expenditure that the Société considers necessary to cover the costs of the indemnities resulting from accidents that occur during the period for which the insurance contributions are determined and all the other costs borne by the Fonds d'assurance automobile du Québec for that period;
- assess the measures taken to promote highway safety in order to reduce the risks associated with driving (these measures are under review by the Table sur la sécurité routière chaired by Mr. Jean-Marie de Koninck);
- consider the risks inherent to each class of insured vehicles and users and the equity to be maintained between these classes;
- determine if the insurance contributions are fair and reasonable;
- consider the financing policy of the Société, the actuarial forecasts, the valuation of the actuarial liabilities and, where applicable, the need for additional contributions in the event of insufficient assets;
- consider the quality of the services offered by the Société and any change made to the Automobile Insurance Plan;
- consider the economic and social concerns indicated by the Société and the public.
The mandate of the Panel of Experts is set out in accordance with articles 17.6 and 17.7 of the Act to amend the Act respecting the Société de l'assurance automobile du Québec
and other legislative provisions (R.S.Q., c.S-11.011).
