2024 NICC Agenda

For more information on our golf tournament, click here.

Join us for the opening Lloyd’s Cocktail taking place at The Westin Bayshore. We look forward to seeing you there!

Land acknowledgement Kevin Kelley from Soowahlie First Nation

Performers:

Naomi Black from Kwadacha Nation

John Miller from Stʼatʼimc

The pace of regulatory changes is not slowing down. It is important to take stock and gain perspective on where things are headed in terms of expectations and developments across a wide spectrum of issues. We’ll have a dynamic fireside chat between OSFI Superintendent Peter Routledge and our Emcee Kathleen Butterfield.

This session will explore building back better as a strategy to reduce severe weather damage to homes and businesses across Canada.

Most homes in Canada that experience basement flooding were not protected by a backwater valve. These devices cost less than $300 and can prevent or significantly reduce claims that may exceed $35,000. Almost 99 percent were installed during initial construction of a new home and could readily be included during rebuilding of homes that experience significant losses. Many homes in Canada destroyed by wildfire had vinyl siding that melted into a toxic mess. Rebuilding these homes with Hardie board fibre cement siding would significantly reduce the risk of wildfire damage. Homes rebuilt with hurricane straps and class 4 hail impact resistant shingles will have reduced risk of wind and hail damage. Proven resilience actions are known.

The Institute for Catastrophic Loss Reduction finds that each dollar invested to build back better results in 5 to 10 dollars of avoided future expenses for governments, building owners and insurers. The federal government’s DFAA program provides support to rebuild damaged public infrastructure with additional protection – to build back better. Discussion with panel members will explore how insurance companies can promote and expand government incentives and how building back better can be embraced by insurance companies and governments to better protect homeowners and small businesses.

With consolidation, and insurer and private equity backed aggregators gobbling up distribution market share how can independence be maintained? How important is it? Does it really matter? Join this fantastic panel to find out.

Consumers, industry, regulators, and public policy makers require data to make effective decisions. Quality, timeliness and reliability are key factors that enable the transformation of data into meaningful information. The capacity to manage increasingly large data sets, promote best practices in data governance and apply informed data analysis is essential to the health and stability of the industry. In addition to the management of data at the industry level, there has been a steady emergence of consumers/individuals wanting ownership of their own personal data, which adds another dynamic to data governance. GISA and the Facility Association are among those tackling these challenges. Join us for an engaging discussion of how GISA and the FA are working and collaborating to enhance the value and accessibility of ASP/UIP data.

In this session we will explore the transformative impact of Generative AI through the lens of early adoption within the insurance industry. Our panel will share critical insights from the first two years of experimentation and implementation, focusing on the essential steps for scaling this technology across organizations, realizing its full value, and ensuring its responsible use. We’ll discuss strategic integration, scaling successes, and the importance of aligning AI initiatives with ethical standards and business goals. Throughout the session we will focus on the Art of the Possible highlighting existing or soon to emerge Generative AI skills and capabilities.

Join us to discover how to leverage Generative AI’s potential to revolutionize the insurance landscape and to engage in a dialogue about the future of AI in our industry.

In this first part of a two-part session, we delve into the nuances of the MGA market, examining its strengths and weaknesses, advantages and disadvantages, as well as opportunities and challenges. The MGA market has witnessed significant growth in recent years, making it essential to understand the full spectrum of factors influencing its trajectory.

In the second part of this session, we delve into the evolving captive landscape that is becoming an ever more important component of comprehensive risk management and transfer strategies.

Often compared to the Wild West, Cyber Insurance has been, and in many cases still is, highly volatile, concentrated, and unfriendly to underwriters and clients alike. Are things stabilizing? Is the market broadening out? Are we in for more turmoil? Join this panel to find out.

As rate variables and modeling techniques continue to evolve, industry leaders are facing unique challenges and opportunities. This panel brings together a distinguished group of experts who will delve into the dynamic changes in rating variables, examine the driving factors behind these evolutions, and discuss the complexities they introduce. Together, they will explore new, innovative ways of thinking about these changes, and highlight how insurance companies can incorporate new perspectives to solve for profitable growth whilst continuing to provide fair and accurate rates. Join us for an insightful discussion with actionable ideas to maintain integrity and fairness in the insurance industry amidst rapid change.

Join Munich Re’s Michael Menhart for a whirlwind tour of the challenges, complexities and opportunities facing the insurance industry and the world economy amid geopolitical tensions and fragile financial systems. Q&A will be encouraged.

In Budget 2024, the federal government committed to launch a national high-risk flood program ‘within 12 months’. The program will be built on a multi-peril basis, which will enable other perils, principally earthquake, to be included at a later date. The P&C industry is playing a leading role in bringing the new program to life. What are the requirements of successfully designing and implementing a new, best-in-class disaster risk program in Canada? What complementary measures are required to ensure the successful operation of the program, including risk identification, consumer education, incentive structures, affordability and risk mitigation, to name a few? And given comparable programs in similar jurisdictions (e.g., Flood Re in the UK, NFIP in the US), what landmines must be side-stepped when designing a national flood insurance program? Join our panelists as they explore these exciting and pressing issues.

A perennial favorite, this session features the same cast but explores new developments to close out the NICC business sessions. Join us for an interactive discussion on legal and regulatory hot topics affecting the industry. The session will address key legal and regulatory developments, providing insights into what you need to know about our current status and where our pundits predict we may go next.

With the most pivital US Elections of our lifetimes mere weeks away, you will not want to miss hearing from Jessica Yellin, Founder of NewsNotNoise and former CNN White House correspondent as she engages in a brutally frank conversation with our own Alister Campbell. You are not going to want to miss this.