FCAA is Saskatchewan’s financial and consumer marketplace regulator.
The Saskatchewan Insurance Act (SIA) provides the framework for how insurance sales are regulated in Saskatchewan.
If you are seeking to become a licensed insurer, you must:
Every Saskatchewan incorporated entity and every reciprocal insurance exchange seeking an initial licence should contact the office of the Superintendent of Insurance to discuss additional requirements.
The classes of insurance under the SIA are not necessarily identical to those in other jurisdictions. See Saskatchewan Classes of Insurance Referenced to OSFI Classes for assistance in selecting the appropriate classes of insurance.
Renewal licence applications
Insurance licences expire 5 years after they are issued and must be renewed if the insurer is continuing to sell insurance in Saskatchewan. Applications for licence renewal may be made using the Canadian Council of Insurance Regulators Application for Insurer’s Licence form. Renewals require only completion of the statutory declaration, Parts A, B, C, Appendices II and III (only if there has been any change), as well as the renewal fee (based on the information in Appendix IV)