The Financial Institutions Division licenses about 256 insurance companies that operate in the province, as well as 5,678 individual insurance agents, brokers and adjusters, and 805 agencies, brokerages and adjuster firms.
The division regulates the operations of credit unions, and trust and loan companies. It also responds to approximately 400 documented complaints and 5000 inquiries annually, which are predominantly insurance related. These complaints may lead to investigations into the activities of licensees, and may result in disciplinary actions as well as referrals to police authorities.
The division administers the collection and verification of about $57 million in insurance premiums tax annually and administers the collection of a levy on all auto insurers of about $12 million for the Department of Health.
LinksFinance Canada provides online information concerning banks and financial institutions.
Financial Consumer Agency of Canada supervises financial institutions to ensure they meet their legal obligations to consumers, and provides information for consumers to understand their rights and make informed financial decisions.
Financial Services Commission of Ontario (FSCO) regulates insurance, pensions, credit unions, caisses populaires, cooperatives, mortgage brokers and trust and loan companies.
Office of the Superintendent of Financial Institutions Canada (OSFI)