MONTREAL — Quebec's financial regulator says Apple Canada Inc. has agreed to pay a penalty of $175,000 after an investigation into the company's AppleCare+ Plan.
The Autorité des marchés financiers says the deal follows an investigation into the plans that offer accidental damage coverage.
It says the terms of the plan constitute insurance because the covered risk is not limited to device defects or malfunction and must be offered by an insurer.
The AMF says Apple has agreed to ensure that the AppleCare+ Plan will be offered by an authorized insurer in Quebec.
It says Apple started to change the way the plans are offered and distributed in the province before the agreement was signed.
In order to protect the customers involved, the AMF says existing contracts or those that will be entered into during this standardization process will remain in force.
This report by The Canadian Press was first published June 14, 2024.
The Canadian Press
