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The insurance industry is closely monitored and regulated by both federal and provincial governments to ensure that insurance companies and their intermediaries are able to meet their financial obligations to policyholders. In addition, provincial governments have jurisdiction over market conduct and consumer issues such as rate-setting, sales practices and the conduct of brokers.

Federal Regulators

Office of the Superintendent of Financial Institutions (OSFI)

Provincial Regulators

Other Links

General Insurance OmbudService (GIO)

GIO is an independent dispute resolution service that helps Canadian consumers resolve disputes or concerns with their home, auto or business insurers.

Property and Casualty Insurance Compensation Corporation (PACICC)

In the unlikely event of the collapse of a P&C insurer in Canada, the industry-funded, non-profit organization, PACICC, will respond to claims of policyholders under most policies issued by P&C companies. You don’t need to apply for protection; it is extended automatically to eligible policies.