Did you know that Assuris is to the insurance industry what the Canada Deposit Insurance Corporation (CDIC) is to the banking industry?
Founded in 1990, Assuris is the independent not-for-profit organization that protects Canadian policyholders if their life and health insurance company fails. Backed by the strength of the life and health insurance industry, Assuris provides a safety net for every Canadian policyholder. Every insurance company authorized to sell life and health insurance policies in Canada is required, by the federal, provincial, and territorial regulators, to be a member of Assuris.
Where OSFI’s stringent regulations are the first line of defence to prevent insurance companies from facing bankruptcy, Assuris offers a second line of defence so that if ever necessary, they will facilitate the transfer of in force policies to a solvent insurer and as needed, provide financial protection.
New Higher Levels of Protection
Read Assuris’ recent announcement to learn more about their new protection levels, and visit the Assuris Advisor Toolkit to access Assuris’ CE accredited course material and Advisor Toolkit for client friendly materials:
If you have any questions about Assuris, contact your local PPI Collaboration Centre.