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 is the role of insurance council?
Life Insurance Council is a forum that connects the various stakeholders of the sector. It develops and coordinates all discussions between the Government, Regulatory Board and the Public. In short, it is the face of the Life Insurance industry. Constituted under Sec.
Who holds insurance accountable 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 licenses and regulates agents and insurance agencies in Canada?
The Office of the Superintendent of Financial Institutions (OSFI) regulates federally registered property and casualty insurance companies across Canada.