The Annual Statement on Market Conduct (ASMC) is an annual questionnaire that collects detailed information from insurers regarding their governance, practices and policies with respect to the fair treatment of customers. It was introduced by the Canadian Council of Insurance Regulators (CCIR) and its members in 2017.
This annual statement allows CCIR members to collect data about insurers’ policies and practices. Regulators used this information to perform risk profiling and conduct reviews on the insurers' culture, policies and procedures to evaluate if they support fair treatment of customers.
In Ontario, the Financial Services Regulatory Authority of Ontario (FSRA) administers this annual questionnaire to all Ontario-licensed insurance companies who must file their questionnaire each year by May 1.