Who regulates insurance professionals in Canada?

The regulation of insurance professionals in Canada primarily falls under the jurisdiction of provincial regulatory authorities. Each province and territory has its own regulatory body that oversees the licensing, conduct, and professional standards of insurance agents, brokers, and other insurance professionals. This decentralized regulatory framework is designed to ensure that insurance practices meet the specific needs and legal requirements of each province while maintaining consumer protection.

The provincial regulatory authorities are tasked with enforcing regulations, investigating complaints, and ensuring that insurance professionals adhere to ethical standards and legal obligations. This is key to maintaining public trust in the insurance industry and protecting consumers from malpractice or unethical behavior.