Canadian Council Of Insurance Regulators (CCIR)

What is ‘Canadian Council Of Insurance Regulators (CCIR)’

An organization that was established in order to advocate for a more effective regulatory framework in Canada. Additionally, the CCIR collaborates with other financial regulators on a regular basis to strengthen consumer protection legislation and to encourage the harmonization of rules across multiple jurisdictions, among other things.

Explaining ‘Canadian Council Of Insurance Regulators’

The Canadian Council of Insurance Regulators (CCIR) is a group of insurance regulators from throughout Canada, including those from the federal government and each province and territory. The Canadian Centre for Regulatory Innovation (CCIR) collaborates with these organizations to develop answers to regulatory concerns in Canada.

Canadian Council Of Insurance Regulators FAQ

Who regulates health insurance companies in Canada?

The Insurance Firms Act is the fundamental piece of law controlling all insurance companies in Canada that are either federally incorporated or registered.

Who licenses and regulates agents and insurance agencies in Canada?

A federally licensed property and casualty insurance company in any province or territory in Canada is regulated by the Office of the Superintendent of Financial Institutions (OSFI).

Further Reading

  • E-commerce and distribution of insurance products: a few suggestions for an appropriate regulatory infrastructure – [PDF]
  • Future Outlook of Takaful (Islamic Insurance) in Canada – [PDF]
  • Public relief and insurance for residential flood losses in Canada: Current status and commentary – [PDF]
  • The Impact of the 2003 Regulatory Reform in the Canadian Property/Casualty Insurance Industry on Insurers’ Surplus Levels – [PDF]
  • Rethinking consumer protection regulation in insurance markets – [PDF]