Federal laws of Canada. ... Insurance Companies Act ( S.C. 1991, c. 47) ... Complaint Information (Canadian Insurance Companies) Regulations (SOR/2001-373) ...HTMLFull Document · Amalgamation · Segregated Funds
What is the insurance Act Canada?
The Insurance Companies Act is the primary legislation governing all federally incorporated or registered insurance companies in Canada.
Is the insurance industry regulated in Canada?
Property and casualty (P&C) insurance companies in Canada are regulated by federal and/or provincial regulators, called Superintendents of Insurance. Federally, the Office of the Superintendent of Financial Institutions (OSFI) regulates the solvency and financial soundness of most P&C insurance companies.
What is the basic law of insurance?
In insurance, there are 7 basic principles that should be upheld, ie Insurable interest, Utmost good faith, proximate cause, indemnity, subrogation, contribution and loss of minimization.
Who regulates car insurance companies in Canada?
The Canadian Council of Insurance Regulators (CCIR) is an inter-jurisdictional association of insurance regulators. The mandate of the CCIR is to facilitate and promote an efficient and effective insurance regulatory system in Canada to serve the public interest.