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Quebec Financial Professionals Must Fulfill ChAD Compliance Training Requirements by December 31, 2019
The professional development obligations of the Quebec insurance industry are in full swing. As a result, financial professionals must take note and fulfill their requirements on time.
Background Information
According to the latest updates from the Commission d’Accès à l’Information et de la Protection des Diplômes (ChAD), members are required to earn 20 Professional Development Units (PDUs) during each two-year reference period. This breaks down into:
- At least three PDUs in compliance
- Up to five PDUs allocated for professional development
New Compliance Requirements
Before the deadline of December 31, 2019, all ChAD members are required to complete a compulsory course titled “Focusing on Compliance: Your Duty to Inform, Explain and Advise” worth two PDUs in the compliance category. This course is exclusively available through EduChAD and must be purchased and completed through their platform.
Supporting Professionals
To help financial professionals meet these obligations, ILScorp ChAD PDU Subscribers now have access to two new ChAD Compliance courses. These interactive training modules delve into the complexities of the Quebec insurance act, specifically the Act Respecting the Distribution of Financial Products and Services. The objective is to equip professionals with a solid understanding of the various sections of the Act, enabling them to anticipate compliance issues and address them effectively.
Available Courses
The two new courses are:
- “Act Respecting the Distribution of Financial Products and Services Part 1” (3 PDUs)
- “Act Respecting the Distribution of Financial Products and Services Part 2” (3 PDUs)
Both courses are part of the ILScorp ChAD PDU Subscription package.
Importance of Compliance
As a licensed damage insurance agent, broker, or claims adjuster in Quebec, it is crucial to complete the required 20 hours (PDUs) of training per two-year compliance period. The deadline for this compliance period is December 31, 2019.
Benefits of ILScorp ChAD PDU Subscription
The ILScorp ChAD PDU Subscription offers a range of benefits, including:
- Six months’ access to over 70 accredited ChAD insurance training courses in both text and streaming video formats
- Over 100 PDUs across various categories, including administration, insurance techniques, professional development, compliance, and law and legislation
- Cost savings compared to purchasing individual courses
- A digital record of completed course work, kept on file for up to seven years
- Convenience of completing PDU requirements entirely online, without the need for paperwork or commuting
Don’t Miss the Deadline!
Don’t miss the deadline – ensure your compliance today!