Stewart Financial Services

Office of the Superintendent of Financial Institutions Canada (OSFI)

The fight against financial crime is an ongoing priority for governments around the world. The ability of criminals and criminal organizations to use financial institutions to launder funds, along with the potential risk to their reputations, and ultimately to their safety and soundness, continues to be a concern for financial and other regulators.

Over the past several years there has been extensive action in many countries to implement permanent measures to fight money laundering and terrorist financing. This action has been driven largely by the leadership of the Financial Action Task Force (FATF), of which Canada is a founding member.

OSFI’s mandate includes supervising financial soundness and promoting the adoption, by management and Boards of FRFIs, of policies and procedures designed to mitigate risk. OSFI believes that the risk management outcomes identified will further reduce the susceptibility of FRFIs to being used by individuals or organizations to launder funds and fight terrorist financing, thereby reducing their exposure to damage to their reputation, a key asset in the financial services industry.

Canadian Life and Health Insurance Association The Canadian Life and Health Insurance Association (CLHIA), established in 1894, is a voluntary trade association that represents the collective interests of its member life and health insurers.

The Association's membership accounts for 99 per cent of the Insurance in force in Canada and administers about two-thirds of Canada's Pension Plans.

Assuris - Protecting Your Life Insurance Founded in 1990, Assuris is a not for profit organization that protects Canadian policyholders in the event that their Life Insurance company should fail. Their role is to protect policyholders by minimizing the loss of benefits and ensuring a quick transfer of their policies to a solvent company, where their benefits will continue to be honoured.

Assuris is funded by the Life Insurance industry and endorsed by government. There is no cost to policyholders for Assuris’ protection.