With its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. The Canadian Insurance Market About 230 private property and casualty insurers actively compete in Canada, along with 27 providers of life and accident, and sickness. In addition, the compulsory component of auto insurance is provided exclusively by government-owned auto insurers in British Columbia, Saskatchewan, and Manitoba. A government-owned insurer provides the bodily injury portion of automobile insurance in Quebec. Total premiums for automobile insurance are more than for all other classes combined.
Property insurance ranks second, followed by liability insurance.
General insurance companies operating in Canada are supervised by the federal or provincial governments. Canada's private property and casualty insurers employ about 100,000 people, including independent brokers, adjusters, and actuaries. Many others derive income from the payment of insurance claims, including trades and professions, such as car repair, construction, medicine, law, and accounting. Policy wordings are written in French and English in Quebec, and in English in the rest of the country. Canadian policies can be written in Canadian dollars as well as in U.S. dollars.