Class action
Option consommateurs was authorized to institute a class action against Desjardins Sécurité Financière, compagnie d’assurance-vie (« DSF ») on the grounds that on June 1, 2016, it added cancer diagnostic coverage (the “Cancer Protection”) to Desjardins members’ savings-life insurance and increased their premiums without their consent.
In September 2023, Option consommateurs and DSF reached a settlement to resolve the class action.
The settlement agreement provided that DSF would reimburse the premiums charged for Cancer Protection to each eligible class member who made a valid claim and waived Cancer Protection retroactively so that, if they still held a savings life insurance policy with DSF, their original policy would be reinstated – namely, without coverage for or entitlement to benefits in the event of a cancer diagnosis (after deduction of a portion of class counsel’s fees and the amount payable to the Fonds d’aide aux actions collectives). This resulted in total accepted valid claims exceeding $13 million.
The settlement agreement also provided that DSF would pay an additional amount of $3 million, to be distributed to charitable organizations as indirect compensation to class members, after payment of disbursements and a portion of class counsel’s fees. In addition, DSF covered all costs associated with the settlement.
This case is now closed.