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Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario – on June 8, 2019. [1] The Financial Services Regulatory Authority of Ontario operates at arms-length from the Government of Ontario , and reports to the Legislative Assembly ...
All private companies registered to sell auto insurance in Ontario, are required to use the OAP for their private car insurance policy. The OAP is the legal contract that connects an Ontario driver with every Ontario based insurance company. Insurance coverage is divided up between several different portions of the policy.
The Fault Rules say which driver was responsible for an accident. Accidents are either 0%, 25%, 50%, 75%, or 100% at fault. If the driver is from Ontario, the portion not at fault percentage is covered under Ontario's mandatory to buy Direct Compensation insurance, and the at fault portion is covered under the optional to buy Collision insurance.
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Established in 1964, it promotes and lobbies for the insurance industry to governments and the general public. [2] IBC member companies represent 90% of the Canadian property and casualty (P&C) insurance market. [2] Its member companies represent the vast majority of the Canadian property and casualty (P&C) insurance market. [3]
The Dominion of Canada General Insurance Company, operating as The Dominion, was a Canadian general insurance company in operation from 1887 to 2013. The Dominion’s head office was in Toronto and the company had various offices across Canada. The Dominion’s first president was Sir John A. Macdonald, Canada's first prime
The Office of the Fairness Commissioner (French: Bureau du commissaire à l’équité) is an arm's length Crown agency of the Government of Ontario that is responsible for ensuring that Ontarians with professional credentials from foreign countries can have fair access to regulated professions and trades in Ontario. [1] [third-party source needed]
The Insurance Institute of Canada is a not-for-profit organization which provides nationally standardized professional development programs for the insurance industry in Canada. Founded in 1952 and headquartered in Toronto , the IIC is an umbrella organization of 19 provincial and regional chapters across Canada.