Assuris’ mission is to protect policyholders if their life insurance company fails. Regulation of member companies is performed by:
- Office of the Superintendent of Financial Institutions (OSFI) for federally incorporated financial institutions.
- Autorité des marchés financiers (AMF) for financial institutions incorporated in Quebec.
- Financial Services Regulatory Authority of Ontario (FSRA)
- Canadian Council of Insurance Regulators (CCIR)
- Government of Alberta
- Government of British Columbia
- Government of Manitoba
- Government of New Brunswick
- Government of Newfoundland and Labrador
- Government of Northwest Territories
- Government of Nova Scotia
- Government of Nunavut
- Government of Prince Edward Island
- Government of Quebec
- Government of Saskatchewan
- 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:
- Canada Deposit Insurance Corporation (CDIC)
- Property and Casualty Insurance Compensation Corporation (PACICC)
- 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)