How are Fraternal Benefit Societies Organized?
Fraternal benefit societies are typically organized into a system of lodges. The basic unit of the structure for Orange Benefit Fund is the Primary Lodge. Through the Primary Lodges, members have input into decisions that impact their Primary Lodge and the whole organization. Members of a Primary Lodge typically gather once a month for a business meeting and to get involved in the social and charitable aspect of the Primary Lodge.
Orange Benefit Fund is federally regulated by the Office of the Superintendent of Financial Institutions Canada (OSFI) and is subject to the same regulations as other Canadian life and health insurers. Federal supervision encompasses insurers incorporated or continued under the Insurance Companies Act Canada. In general, OSFI conducts prudential reviews of federally regulated insurers to determine their financial soundness.