Regulators, insurers must focus on risks: OSFI

International regulators should narrow the focus of their mandates, while insurers must re-evaluate their use of modeling, according to the head of the Office of the Superintendent of Financial Institutions (OSFI). Speaking at the National Insurance Conference of Canada (NICC) in Ottawa, Superintendent Julie Dickson told a ballroom of C-suite professionals in the P&C space[…]

Industry needs to examine and focus current and future solutions, says OSFI

New risk transfer solutions need to be considered given the frequency and severity of weather-related losses, Superintendent Julie Dickson told a ballroom of C-suite P&C professionals at the National Insurance Conference of Canada (NICC) in Ottawa, Ont. Capital market solutions have already been implemented in other countries—such as the USA, Europe and Japan—explained an audience[…]

P&C to concentrate on six areas of focus, says OSFI

Fresh off of an international podium—where the focus was on the Canadian financial market and its regulator’s performance during the sub-prime credit crisis of 2008/2009—Canada’s top financial supervisor opened the 3rd Annual National Insurance Conference of Canada with a bit of reflection. “When I spoke to you a year ago, the global financial sector was[…]