Canadian industry

524124 Direct property insurance carriers

Sociétés d'assurance directe - biens

Official definition

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.

Classification Reference

Official classification fields for this page

Official classification fields taken from the current StatCan source bundle.

Characteristic Description
Official titleDirect property insurance carriers
ClassificationNAICS Canada 2022 Version 1.0
Publishing authorityStatistics Canada
Hierarchical levelCanadian industry
Parent code52412 - Direct insurance (except life, health and medical) carriers
International correspondenceK6512*
Sourcehttps://www.statcan.gc.ca/en/subjects/standard/naics/2022/v1/index
Source verification2026-05-05
Canada Business Context

Canada-wide tax and filing context

Canada-wide business, tax, and filing context from the local country pack and tax pack.

Characteristic Description
Tax authorityCanada Revenue Agency (CRA)
Business identifierBusiness Number (BN): 9-digit identifier with program account suffixes such as RT0001 for GST/HST, RP0001 for payroll, and RC0001 for corporate income tax.
Filing requirementsBusiness Number registration; Form T2125 (Statement of Business or Professional Activities) attached to T1; Form T2 (Corporation Income Tax Return); Form T5013; Form GST34
Sector authorityOffice of the Superintendent of Financial Institutions (OSFI) and provincial securities commissions

Inclusions

  • 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

Exclusions

  • reinsuring property insurance (See 524134 Property reinsurance carriers (CAN))

Examples

  • direct property insurance carriers (e.g., burglary, theft, fire, damage)
  • fire insurance underwriters
  • direct property insurance carriers (e.g., burglary, theft, fire, damage)
  • fire insurance underwriters
  • personal and commercial property insurance
  • plate glass 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

Classification Confidence Score

5 of 6 factors passing

8/ 10
Verified official sourcenaics-scian-2022-structure-v1-eng.csv (2026-05-05)
International crosswalkISIC Rev. 4 mapping: K6512*
Previous edition migrationNAICS 2017 to 2022 continuity confirmed
Complete hierarchy5 levels confirmed in hierarchy
Size or threshold documentedSME thresholds documented in federal tax pack
Trade or export matchNo direct HS code correspondence in current bundle
Legacy crosswalkLegacy system (SIC 1980) retired in this region
Business Profiles

When you might need code 524124

These role examples come from the official title and example wording attached to this code.

01 524124
Direct property insurance carriers

Use this page when the business is directly described by the official title or definition for 524124 Direct property insurance carriers. It is the closest source-backed checkpoint before BN registration, GST/HST review, banking onboarding, or internal classification work.

02 524124
direct property insurance carriers (e.g., burglary, theft, fire, damage)

Use this page when the activity is described in the official StatCan example wording as direct property insurance carriers (e.g., burglary, theft, fire, damage). Compare the definition, exclusions, and nearby codes here before attaching 524124 Direct property insurance carriers to a business file.

03 524124
fire insurance underwriters

Use this page when the activity is described in the official StatCan example wording as fire insurance underwriters. Compare the definition, exclusions, and nearby codes here before attaching 524124 Direct property insurance carriers to a business file.

04 524124
personal and commercial property insurance

Use this page when the activity is described in the official StatCan example wording as personal and commercial property insurance. Compare the definition, exclusions, and nearby codes here before attaching 524124 Direct property insurance carriers to a business file.

Business Map

Business categories in this branch

A rotating set of business activity examples linked to this part of the Canadian hierarchy.

Insurance workCredit servicesBanking servicesBrokerage supportPayment processing

ISIC Rev. 4 correspondence

K6512*Non-life insurance

Approximate correspondence

Direct property insurance carriers

US NAICS referenceNo exact same-code US entry appears in the local reference workbook.

Source row

524124Direct property insurance carriers

This page mirrors the source row from the structure CSV and the matching rows from the elements and crosswalk files.

Frequently asked questions

What does code 524124 cover?

Direct property insurance carriers: 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 ins...

Which level of the hierarchy is 524124?

It is a canadian industry page in the NAICS Canada 2026 hierarchy.

What is the parent of 524124?

It rolls up to 52412 Direct insurance (except life, health and medical) carriers.

Should I stop at 524124 or go lower?

This page already points to the exact six-digit Canadian industry in the current site structure.

Are official inclusion notes attached to 524124?

Yes. 2 inclusion note(s) are attached on this page.

Are there exclusion notes for 524124?

Yes. 1 exclusion note(s) help separate this page from nearby codes.

Does 524124 include illustrative examples?

Yes. 7 example row(s) are available for boundary checking.

What kinds of businesses often start from this page?

Examples in this branch include Insurance work, Credit services, Banking services, Brokerage support, Payment processing.

Is there an ISIC mapping for 524124?

Yes. The page shows K6512* Non-life insurance.

Does this page show a US NAICS reference?

No same-code US NAICS reference row is attached on this page.

Why are both English and French titles shown?

NAICS Canada is bilingual, so the page keeps both language titles visible for comparison and lookup.

Where does the page text come from?

From the local StatCan structure file, elements file, ISIC crosswalk, and the bundled US 6-digit reference workbook.