Safety Net
Who Is Assuris
Assuris is an independent, not-for-profit, industry-funded compensation organization whose mission is to protect Canadian policyholders if their life and health insurance company fails. Our role is to ensure that, if a life and health insurance company fails, policyholders continue to receive their benefits and policies are transferred to a solvent company.
Assuris Governance Structure
At Assuris, strong governance is fundamental to deliver on our mandate of protecting Canadian policyholders. Our governance framework ensures transparency, accountability, and sound decision-making through a Board of Directors composed of independent members with deep expertise in insurance, finance, and risk management.
Assuris Independence
At Assuris, being independent in the public interest means making decisions that serve policyholders and uphold the integrity of the life and health insurance industry in Canada.
Resolution Funding
The Assuris funding model is composed of the assessment system plus the liquidity fund we hold to meet immediate needs in resolution. It is primarily a post-funded model, meaning funds are collected from the industry after a failure occurs.
Resolution Readiness
At Assuris, resolution readiness ensures we can protect policyholders, maintain public confidence, and support a stable financial system. This includes preparing for different failure scenarios, coordinating with regulators, and having clear communication strategies to guide our actions.
Assuris Key Stakeholders
Collaboration with our stakeholders is essential to fulfilling Assuris’ mandate. By engaging with regulators, member companies, industry associations, and government entities, we strengthen our preparedness, ensure alignment on key issues, and enhance the protection we provide to policyholders. Ongoing dialogue helps us stay informed, responsive, and transparent in everything we do.
