LLQP Exam Dumps | Which organization provides protection for holders of segregated fund contracts in Canada if the insurer

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Question 24/109

Which organization provides protection for holders of segregated fund contracts in Canada if the insurer becomes insolvent?

A. Canadian Deposit Insurance Corporation

B. Canadian Insurance Services Regulatory Organizations

C. Assuris

D. OmbudService for Life & Health Insurance

Correct Answer: C

Assuris provides protection to Canadian policyholders, including holders of segregated fund contracts, if their insurance company becomes insolvent. Assuris is a not-for-profit organization that safeguards policyholders by ensuring that they continue to receive guaranteed benefits within specified limits. This organization is essential for maintaining confidence in the Canadian insurance industry, offering peace of mind to policyholders that their segregated fund contracts are protectedunder such circumstances. Neither the Canadian Deposit Insurance Corporation nor the OmbudService for Life & Health Insurance provides this specific type of insolvency protection for segregated funds.

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