Presently limitation periods for bringing actions against insurers for failing to honour insurance policies depends on the type of insurance. The Insurance Act contains statutory provisions that specifically set out limitation periods for certain types of insurance and requires other specific types of insurance policies to contain “Statutory Conditions” that prescribe their own limitation periods. Inconsistent limitation periods have caused confusion for both insured and for lawyers, and have resulted in a considerable amount of litigation over missed limitation periods. It is desirable to standardize and rationalize all limitation periods for actions against insurers on policies. This report recommends that the limitation periods for actions on all types of insurance contacts be standardized. Insurance contracts should be subject to the limitation periods in the Limitation Act. The limitation periods for all insurance contracts should be centralized in the Limitations Act. Limitation periods for actions against insurers should commence in accordance with section 3 of the Limitations Act. Insurance companies should not be able, contractually, to impose shorter limitation periods in insurance contracts.