02320cas a2200241 a 4500 AALejournalIMF016183 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513527208 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Canada : Financial Sector Assessment Program-Technical Note-Insurance Sector: Regulation and Supervision. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (42 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This chapter on Financial Safety Net and Crisis Management for the Canada reviews the insurance sector's regulation and supervision. The paper highlights that Canada has a highly developed insurance market that is important to Canada's economy. Regulation and supervision of the insurance sector in Canada is conducted by the federal and provincial authorities. Insurers can be incorporated under the federal or provincial regime. At the federal level, the Office of the Superintendent of Financial Institutions (OSFI) is responsible for prudential regulation and supervision of federally regulated insurers. The provincial supervisors oversee prudential oversight of provincially regulated insurers and conduct oversight of all insurers operating in their jurisdictions. Federal-provincial cooperation and coordination should be further improved. Group-wide supervision needs improvement in legal foundation and consistency of application. With no legal powers over unregulated holding companies, both OSFI and Autorite des marches financiers rely on voluntary agreements with the companies to be able to obtain information and apply prudential requirements for the insurance groups. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/021 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/021/002.2020.issue-021-en.xml IMF e-Library