- Consumer Issues
- Financial Institutions
- Taxation and Finance
Subject Matter Details
Legislative Proposal, Bill or Resolution
- Resolution regime with respect to enhancing the rapid resolution of a life insurance company through effective resolution planning, resolvability assessments and insolvency legislation.
- Winding Up and Restructuring Act with respect to restructuring and winding up of life insurance companies, specifically Part 3. As we protect policyholders of life insurance companies if a company should go under the Winding-up and Restructuring Act, we're interested in ensuring that it provides appropriate policyholder protection.
Policies or Program
- Capital Standards with respect to life insurance companies to ensure that there is sufficient capital available for policyholders in the event of an insolvency.
- Financial Consumer Protection plans with respect to co-operation with other consumer protection plans.
Bank of Canada
Canada Deposit Insurance Corporation (CDIC)
Finance Canada (FIN)
Financial Consumer Agency of Canada (FCAC)
Innovation, Science and Economic Development Canada (ISED)
Office of the Superintendent of Financial Institutions Canada (OSFI)
In-house Organization Details
Description of the organization's activities
Canadian Life and Health Insurance Compensation Corporation (a.k.a. Assuris) is a not for profit corporation, funded by the life insurance industry, that protects Canadian policyholders against loss of benefits due to the financial failure of a member company.
Responsible officer name and position during the period of this registration
President & Chief Executive Officer (CEO)
Organization's membership or classes of membership
Life insurance companies licensed to write life insurance in Canada are required to be members of Assuris by the regulators authorizing them to sell to the public. Members cannot terminate their membership so long as they are licensed to write business in Canada or have any in force business in Canada.
No government funding was received during the last completed financial year.
In-house Organization Contact Information
250 Yonge Street
Toronto, ON M5B 2L7
Employees who lobby for the organization
- Paul Petrelli,
President & CEO |
No public offices held
- Josee Rheault,
Executive Vice President, Operations |
No public offices held