Canadian Financial Services Consumer Protection

Welcome to the Canadian Financial Services Consumer Protection website. Canadian financial services consumers can feel secure in knowing that Canada has a strong well-regulated financial services sector, and that in the unlikely event that a Canadian financial institution fails, consumers are protected by a variety of compensation plans.

This website guides consumers in understanding how compensation plans safeguard the financial well-being of Canadians. The collective strength of the protections offered to Canadian financial services consumers provides all Canadians with added confidence and peace of mind when planning a future for themselves and their loved ones.


Collective Strength

Protecting the financial well-being of Canadian financial services consumers.


Below is an at-a-glance view of all compensation plans and organizations as well as how to find more information about how you are protected.

Assuris' role is to protect Canadian policyholders in the unlikely event that a life insurance company fails. Established in 1990, we are an independent not-for-profit compensation organization, backed by the financial strength of the entire Canadian life insurance industry. Every life insurance company authorized to sell insurance policies in Canada is required, by the federal, provincial, and territorial regulators, to become a member of Assuris. Assuris is designated by the federal Minister of Finance under the Insurance Companies Act of Canada and specified in the Quebec Règlement d'application de la Loi sur les assurances.

If you have life insurance from a member company, you already have Assuris protection!

Additional Information

The Autorité des marchés financiers (AMF) is the body mandated by the Québec government to regulate Québec's financial sector and assist consumers of financial products and services. The AMF is unique in that it oversees, in an integrated manner, the areas of insurance, securities, derivatives, deposit institutions—other than banks—and the distribution of financial products and services.

In Québec, the deposits made with various financial institutions are protected by the AMF, which means you won't lose your money if your financial institution ever goes bankrupt.

The AMF will repay eligible deposits made with Québec authorized deposit institutions. Your deposits are protected up to a maximum of $100,000 per category of deposit, per institution, including principal and accrued interest.

By protecting your deposits, the AMF helps to ensure the stability of Québec's financial markets.

Additional Information

The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation established in 1967 to protect the savings of Canadians and contribute to financial stability. We currently safeguard more than $1 trillion in eligible deposits at more than 80 member institutions. As resolution authority, CDIC is responsible for handling the failure of any of our members, from the smallest to the largest. Our members include banks, federally regulated credit unions as well as loan and trust companies. CDIC is funded by premiums paid by member institutions. CDIC has resolved 43 member failures affecting some two million Canadians.

No one has lost a dollar of deposits under CDIC protection.

Additional Information

The Canadian Investor Protection Fund (CIPF) is approved by the Canadian Securities Administrators as the compensation fund for investment dealers and mutual fund dealers regulated by the Canadian Investment Regulatory Organization (CIRO). CIPF is funded by its member firms. A list of all CIPF member firms is available on the CIPF website.

CIPF protects missing property - property held by a member firm on a client's behalf that is missing at the date of the firm's insolvency. Eligible client property includes securities and cash, but excludes crypto assets.

Additional Information

The Credit Union Prudential Supervisors Association (CUPSA) is an interprovincial association composed of credit union deposit insurers and prudential supervisors across Canada.

CUPSA exists to promote effective regulation and supervision of Canadian credit unions and caisses populaires.

Additional Information

Please select the jurisdiction where your credit union is registered.

The Property and Casualty Insurance Compensation Corporation (PACICC) was established with the approval of provincial regulators in 1989 to protect policyholders and claimants in the event that their property and casualty (P&C) insurance company fails. The Corporation is an industry-funded, not-for-profit organization.

PACICC has a three-part Mission - Protect consumers from financial loss in the unlikely event that their insurer fails, minimize the cost of resolution for Member Insurers, and maintain consumer confidence in Canada's P&C insurance industry.

You don't need to apply for PACICC protection. It is extended automatically to all eligible P&C insurance policies.

Additional Information