Canada is the second largest country in the world closely resembling today its neighbor United States with its affluent, high-tech industrial society, market oriented economy, pattern of production, and high living standards. Since 1989 the trade and economic integration of Canada with the United States have strongly increased after approving the U.S. – Canada Free Trade Agreement and 1994 North America Free Trade agreements. Since then Canada enjoys stable economic development due to its great natural resources, skilled labor-force, and modern capital plants. The Canadian insurance industry is a major part of the social and economic activity of Canada.

The Canadian insurance market is represented by about 230 activity competing private property and casualty insurers, along with 27 providers of sickness, life and accident. The compulsory auto insurance is provided exclusively by government owned auto insurers in Manitoba, Saskatchewan and British Columbia. The bodily injury part of automobile insurance in Quebec is also provided by government-owned insurers.

Automobile insurance is the largest single class of general insurance in Canada. Total premiums for auto insurance exceed all other classes combined, next ranks property insurance, followed by liability insurance.

The federal or provincial governments supervise general insurance companies operating in Canada. More then 100.000 people are employed by private property and casualty insurers in Canada, including independent brokers, actuaries and adjusters. Many others get income from the payment of insurance claims, such as car repair, construction, law, medicine and accounting.

As example of successful, nation-wide insurance company in Canada let us note The Co-operators Group Ltd created in 1975 after the agreement of co-ordination between the Co-operative Insurance Services (CIS) and Co-operators Insurance Association (CIA) companies resulting in the creation of new holding company.

The prime mission of the new company was to maintain and develop user controlled institutions operating on the co-operative principles with the aim to provide insurance, finance and other services. Actually The Co-operators Group was carrying out a management and service organization assisting The Group’s companies in their management allowing them the advice, tools and mechanisms to succeed. Among The Group’s companies let us note, first of all, Co-operators Life Insurance Company created in 1982 as a single national life company for the Co-operators after the amalgamation of Co-operative Life Insurance Company and Co-operators Life Insurance Association both belonging to The Co-operators Group.

The company is now one of the 10 largest life insurance companies in Canada.

The Cooperators provides as well auto insurance and travel insurance through Co-operators Auto Insurance and Co-operators Travel Insurance Companies.