What are the top insurance companies in Canada?
This is a list of Canadian insurance companies . The top insurance providers in Canada are Manulife, Canada Life (subsidiary of Great-West Lifeco ), Sun Life Financial, Desjardins, and IA Financial Group (aka Industrial Alliance). [1] [2] Smaller insurers include those operating as subsidiaries of banks, such as CIBC Insurance and TD Insurance.
What is the Insurance Bureau of Canada?
Insurance Bureau of Canada is the national industry association representing Canada’s private home, car and business insurers. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada.
How are insurance companies regulated in Canada?
The Canadian insurance industry is highly regulated at both a provincial and federal level. Simply put, government agencies make sure and monitor that an insurance company in Canada stays solvent and operates such that it stays open for business and have enough funds to cover their liabilities should any worst-case-scenarios occur.