B.C.’s Motor Vehicle Dealership Loyalty Products Qualify as Insurance

Printed . This content is updated regularly, please refer back to https://bcfsa.ca to ensure that you are relying on the most up-to-date resources.

a older man driving his car with an older woman in the front passenger seat

BC Financial Services Authority (“BCFSA”) conducted a comprehensive review of motor vehicle dealership loyalty products offered to British Columbians. The review concluded that those products meet the definition of insurance. Therefore, they must be structured, marketed, and sold as insurance products. For more details, read our Advisory.