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Assuris’ mission is to protect policyholders if their life insurance company fails. Regulation of member companies is performed by:

  1. Office of the Superintendent of Financial Institutions (OSFI) for federally incorporated financial institutions.
  2. Autorité des marchés financiers (AMF) for financial institutions incorporated in Quebec.
  3. Financial Services Regulatory Authority of Ontario (FSRA)
  4. Canadian Council of Insurance Regulators (CCIR)
  5. Government of Alberta
  6. Government of British Columbia
  7. Government of Manitoba
  8. Government of New Brunswick
  9. Government of Newfoundland and Labrador
  10. Government of Northwest Territories
  11. Government of Nova Scotia
  12. Government of Nunavut
  13. Government of Prince Edward Island
  14. Government of Quebec
  15. Government of Saskatchewan
  16. Government of Yukon

In addition to the policyholder protection offered by Assuris, other compensation plans exist in Canada for the protection of consumers of financial products, if a financial institution fails. These include:

  1. Canada Deposit Insurance Corporation (CDIC)
  2. Property and Casualty Insurance Compensation Corporation (PACICC)
  3. Canadian Investor Protection Fund (CIPF)

Other Life and Health Industry Organizations:

  • OmbudService for Life and Health Insurance (OHLI)
  • Canadian Life and Health Insurance Association (CLHIA)
  • Canadian Consumer Protection for Financial Institution Failures
  • International Forum of Insurance Guarantee Schemes (IFIGS)