TY - BOOK ID - 134137693 TI - Canada : Financial Sector Assessment Program-Technical Note-Insurance Sector: Regulation and Supervision PY - 2020 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Monetary policy KW - Quantitative easing (Monetary policy) KW - History. UR - https://www.unicat.be/uniCat?func=search&query=sysid:134137693 AB - Canada has a highly developed insurance market that is important to Canada's economy. Insurance penetration and density are as expected for an advanced economy like Canada. Canada is home to three large life-and-health (L and H) insurance conglomerates that are globally active, with only approximately a third of their business within Canada. In contrast to the L and H insurance industry, the property-and-casaulty (P and C) insurance industry is less concentrated, and foreign-owned insurance subsidiaries and branches have a significant market share. There are three mortgage insurers operating in Canada. The largest mortgage insurer is the Canada Mortgage and Housing Corporation (CMHC), which is a federal government agency that operates on a commercial basis; CMHC also has a separate social housing mandate. All mortgage insurers benefit from an explicit government guarantee; however, a deductible of 10 percent of the original principal amount of the insured mortgage applies to a lender's claim in respect to an insurance contract written by either of the two private mortgage insurers. ER -