What does Assuris provide for clients with policies from insolvent companies?

Assuris is an organization in Canada that protects policyholders by providing a safety net in the event that an insurance company becomes insolvent. When an insurance company fails, Assuris facilitates the transfer of policies to solvent companies. This process ensures that policyholders do not lose their benefits and coverage, as their policies are moved to a stable financial institution that can meet its obligations.

This mechanism helps to maintain continuity for policyholders while minimizing disruption in their insurance coverage. By transferring policies, Assuris supports clients in maintaining their original policy benefits and ensures that they continue to receive the coverage they need even after the insolvency of their initial provider.

Other options, such as providing free audits, guaranteed investment returns, or making direct payouts for all claims, do not accurately describe the role of Assuris in protecting policyholders. The focus of Assuris is on the transfer of policies as a means of safeguarding client interests during times of financial instability in the insurance market.