Creation of the Fonds d’assurance
The Fonds d’assurance was created on April 12, 1988 by resolution of the General Council of the Barreau du Québec under section 86.1 of the Professional Code. The Fonds d’assurance operates in virtue of an insurer’s licence issued by the Autorité des marchés financiers on April 14, 1988. It commenced its operations on May 1st, 1988.
Mission
The mission of the Fonds d’assurance is to provide long-term, not-for-profit, professional liability insurance to the members of the Barreau du Québec.
Governance
Until March 31, 2020, the Fonds d’assurance was administered by a Board of Directors independent of that of the professional order, under article 174.6 of the former Insurance Act, RLRQ c A-32.
Since April 1, 2020 and in accordance with section 354 of the Insurers Act, RLRQ, c. A-32.1, the Board of Directors of the Barreau du Québec exercises the functions and powers relating to the insurance business of the Barreau.
The Règlement sur l’assurance de la responsabilité professionnelle des membres du Barreau du Québec describes the functions and powers that have been delegated to the Director of Insurance Affairs and to the Professional Liability Insurance Decision-making Committee.
The Board of Directors also created the Insurance Affairs Committee, whose mandate is, among other things, to support the Director of Insurance Affairs with regard to all financial matters relating to professional liability insurance business of the Barreau du Québec.