Property and casualty (P&C) insurance companies in Canada are regulated by federal and/or provincial regulators, called Superintendents of Insurance.Canada: Office of the Superintendent of Financial Institutions (OSFI)
Ontario: Financial Services Regulatory Authority of Ontario (FSRA)
Alberta: Alberta Superintendent of Insurance
Quebec: Autorité des marchés financiers (AMF)
Ontario: Financial Services Regulatory Authority of Ontario (FSRA)
Alberta: Alberta Superintendent of Insurance
Quebec: Autorité des marchés financiers (AMF)
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.
Who regulates the insurance industry 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.
What insurance is mandatory in Canada?
All Canadian provinces and territories require drivers to have at least liability and accident benefits/bodily injury coverage. Some provinces may require additional coverage. The insurance may be provided by public or private insurers or, in Quebec, by a combination of both.