Does your claim meet the eligibility criteria?
Claims must satisfy the following eligibility criteria for compensation through the financial services compensation fund:
- You must have conducted business with a company (firm or independent partnership) or an independent representative authorized to operate in one of the five sectors governed by An Act respecting the distribution of financial products and services:
- Insurance of persons (segregated funds, life insurance, accident and sickness insurance, disability, wage loss, etc.)
- Group insurance of persons
- Financial planning
- Damage insurance (auto insurance, home insurance, liability, etc.)
- Claims adjustment
- You must have conducted business with a representative of a mutual fund dealer or of a scholarship plan dealer.
The registered company (firm or independent partnership) or the registered representative must have acted within the limits authorized by the registration. The alleged offence must be related to a product that the company or representative was authorized to provide under their registration with the AMF.
You must file your claim within one year of the date on which you become aware of the fraud, fraudulent tactics or embezzlement.
If all three eligibility criteria are satisfied, the AMF will proceed with the assessment of your claim to determine whether the alleged losses are as a result of fraud, fraudulent tactics or embezzlement, and thus confirm whether you are eligible for compensation.
Please note that all three eligibility criteria must be met. Failure to meet one of the criteria means that the claim will be automatically rejected.
Certain acts committed involuntarily by your representative, whether through a mistake, error, negligence or omission, do not qualify for an indemnity payment.