Final answer:
Provincial legislation protects the interests of loss payees through various insurance schemes such as pension, deposit, and workman's compensation insurance.
Step-by-step explanation:
Provincial legislation protects the interests of loss payees through various insurance schemes. For example, pension insurance requires employers to contribute a portion of their pension funds to guarantee the payment of pension benefits to workers in case the company goes bankrupt. Deposit insurance mandates banks to pay a fraction of their deposits to ensure depositors are reimbursed up to a certain amount if the bank fails. Similarly, workman's compensation insurance requires employers to contribute to funds that provide benefits to workers injured on the job.