North American Industry Classification System (NAICS) Canada 2017 Version 2.0

A

Statistics Canada's Trust Centre: Learn how Statistics Canada keeps your data safe and protects your privacy.

52 - Finance and insurance

This sector comprises establishments primarily engaged in financial transactions (that is, transactions involving the creation, liquidation, or change in ownership of financial assets) or in facilitating financial transactions. Included are:

* establishments that are primarily engaged in financial intermediation. They raise funds by taking deposits and/or issuing securities, and, in the process, incur liabilities, which they use to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk.

* establishments that are primarily engaged in the pooling of risk by underwriting annuities and insurance. They collect fees (insurance premiums or annuity considerations), build up reserves, invest those reserves and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment.

524 - Insurance carriers and related activities

This subsector comprises establishments primarily engaged in underwriting annuities, insurance policies and reinsurance, and the retailing of insurance and the provision of related services to policy holders. Industries are defined in terms of the type of risk being insured against, such as death, loss of employment due to age or disability, and property damage. Establishments that pool risk invest premiums to build up a portfolio of financial assets to be used against future claims. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.

5241 - Insurance carriers

This industry group comprises establishments primarily engaged in underwriting annuities, insurance policies and reinsurance. The establishments of this group invest premiums to build up a portfolio of financial assets to be used against future claims. Contributions and premiums are set on the basis of actuarial calculations of reserves. Direct insurance carriers that are primarily engaged in underwriting annuities and insurance policies directly to policy holders, and reinsurance carriers that are primarily engaged in assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers, are included. Industries are defined in terms of the type of risk against which the policy holders are being insured, such as death, loss of employment due to age or disability, and property damage.

52412 - Direct insurance (except life, health and medical) carriers

This industry comprises establishments primarily engaged in underwriting all types of insurance (other than life, health or medical), directly to policyholders. Examples of establishments in this industry are automobile, property and liability insurance carriers.

524121 - Direct general property and casualty insurance carriersCAN

This Canadian industry comprises establishments engaged only in underwriting a combination of automobile insurance, property insurance and liability insurance, directly to policyholders, with no one of the three types accounting for more than 70 percent of the nominal output. Nominal output is measured as premiums less claims plus investment income.

  • Illustrative example(s)

    • direct property and casualty insurance carriers (combination of policies)

    All examples

  • Exclusion(s)

    • general and other reinsurance (See 524139 General and other reinsurance carriers)
524122 - Direct, private, automobile insurance carriersCAN

This Canadian industry comprises private establishments in which more than 70 percent of nominal output is derived from underwriting automobile insurance directly to policyholders. Nominal output is measured as premiums less claims plus investment income.

  • Illustrative example(s)

    • direct, private, automobile insurance carriers

    All examples

  • Inclusion(s)

    • insurance for private and commercial vehicles
    • liability insurance and vehicle loss or damage insurance
  • Exclusion(s)

    • government-owned automobile insurance carriers (See 524123 Direct, public, automobile insurance carriers)
    • reinsuring automobile insurance (See 524133 Automobile reinsurance carriers)
524123 - Direct, public, automobile insurance carriersCAN

This Canadian industry comprises government-owned establishments engaged in underwriting automobile insurance directly to policyholders.

  • Illustrative example(s)

    • government owned automobile insurance carriers

    All examples

  • Exclusion(s)

    • reinsuring automobile insurance (See 524133 Automobile reinsurance carriers)
524124 - Direct property insurance carriersCAN

This Canadian industry comprises establishments in which more than 70 per cent of nominal output is derived from underwriting property insurance directly to policyholders. Nominal output is measured as premiums less claims plus investment income.
Property insurance provides protection for losses to buildings and contents.

  • Illustrative example(s)

    • direct property insurance carriers (e.g., burglary, theft, fire, damage)
    • fire insurance underwriters

    All examples

  • Inclusion(s)

    • personal and commercial property insurance
    • provision of a package with related types of protection, such as personal liability for homeowners and tenants, business-interruption insurance and temporary accommodation costs
  • Exclusion(s)

    • reinsuring property insurance (See 524134 Property reinsurance carriers)
524125 - Direct liability insurance carriersCAN

This Canadian industry comprises establishments in which more than 70 percent of nominal output is derived from underwriting liability insurance directly to policyholders. Nominal output is measured as premiums less claims plus investment income.

Liability insurance provides protection for legal liability to others for injury, death or damage to property which may arise in the course of carrying out occupational or personal activities.

  • Illustrative example(s)

    • directors liability insurance
    • product liability insurance
    • professional malpractice insurance

    All examples

524129 - Other direct insurance (except life, health and medical) carriersCAN

This Canadian industry comprises establishments, not classified to any other Canadian industry, primarily engaged in underwriting insurance, other than life, health or medical directly to policyholders.

Boiler and machinery insurance provides protection against losses resulting from faulty or malfunctioning machinery, including damage to the insured equipment as well as surrounding buildings and equipment. Surety insurance guarantees that an individual or company will complete work that it has promised to do. Fidelity insurance or fidelity bonds protect organizations against dishonest or fraudulent acts of their employees. Marine and aircraft insurance provides protection for losses to vessels, cargo and liability to passengers.

  • Illustrative example(s)

    • aircraft insurance
    • bank deposit insurance
    • boiler insurance
    • fidelity insurance
    • machinery and equipment insurance
    • marine insurance
    • share insurance
    • workmen's compensation, insurance

    All examples

  • Exclusion(s)

    • general and other reinsurance (See 524139 General and other reinsurance carriers)
Report a problem on this page

Is something not working? Is there information outdated? Can't find what you're looking for?

Please contact us and let us know how we can help you.

Privacy notice

Date modified: