People who subscribed to Desjardins Financial Security (DSF) life and savings insurance before January 1er June 2016 could claim compensation now. The Option consommateurs organization and DSF reached an agreement out of court following a class action concerning increased premiums without the consent of customers.
The insurance company had automatically added protection in the event of a cancer diagnosis and increased the premium without seeking the agreement of its members.
In 2017, the Financial Markets Authority sanctioned DSF for this practice. It was then noted that 385,000 customers were affected.
The Superior Court of Quebec authorized Option consommateurs’ class action against this practice in July 2019.
According to the agreement reached this fall, DSF will reimburse these additional premiums imposed since 1er June 2016 to today, provided that the insured confirms that he did not want Cancer Protection and waives it. He must also not have made an insurance claim under this specific protection.
Those affected have until February 22, 2024 to submit their request for compensation. The form can be found on the website of the consulting services firm Ernst&Young.
DSF also agreed to pay three million dollars to charities “as indirect compensation to members of the group, after payment of disbursements and a portion of the fees of the group’s lawyers,” indicates Option consommateurs on its website.
For the amounts to be distributed, the Superior Court will have to approve the agreement during a hearing scheduled for December 4.
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