Insurance legislation

The Insurance Act provides the legislative framework for the regulation of insurance companies, brokers and and agents operating in Saskatchewan. All insurers operating in Saskatchewan, except those governed by other legislation, are required to comply with the Act. The Superintendent of Insurance is responsible for the administration of the Act. The Superintendent is responsible for regulating insurance companies, insurance brokers, insurance agents and adjusters.

The Superintendent has delegated authority over brokers, agents and adjusters to the General Insurance Council, the Life Insurance Council, and the Insurance Council of Saskatchewan (together known as the Insurance Council of Saskatchewan). The Councils, on behalf of the Superintendent, are now responsible for:

• licensing;
• establishing bylaws;
• conducting investigations and handling complaints; and
• conducting hearings on agent and adjuster licensing and disciplinary matters.

The Superintendent approves bylaws and hears appeals from decisions the Councils make regarding broker, agent and adjuster licensing and disciplinary matters.