Sunday, September 22
2013 Deutsche Asset & Wealth Management NICC Golf Tournament at Le Sorcier Club de Golf
(Tournament begins at 11:00am) Golf registration required.
Conference Registration Opens 9:00am
Cocktail Reception, Sponsored by Lloyd’s 6:00-7:30pm
Monday, September 23
Breakfast Sponsored by Aon Benfield
7:30am - 9:00am
Welcome, Acknowledgements, and Intro Address
9:00am - 9:20am
The View from OSFI
9:20am - 10:00am
Superintendent of Financial Institutions, OSFI
Superintendent Julie Dickson will give an overview of the current economic environment, and what OSFI is seeing in the most recent property and casualty results. Ms. Dickson will also provide insight into various regulatory initiatives that are underway, and discuss what she feels will be important issues in the coming quarters. She will respond to questions at the end of her presentation.
Networking Break Sponsored by Accenture Software
10:00am - 10:30am
10:30am - 12:00pm
Senior Vice-President, Issues Management and Communications, IBC
Tsunami Victim, Founder of Happy Hearts Fund
SVP Policy & Chief Economist, IBC
Professor of Public Policy Economics, Sol Price School of Public Policy, University of Southern California
Geophysicist, U.S. Geological Survey & Chair, Scientific Board of the Global Earthquake Model (GEM)
A survivor’s story, the results of a new IBC-commissioned study on the impact of an earthquake in Canada, insight on the metrics of business interruption losses, and perspectives from a leading expert on the physics of earthquakes will help inform what promises to be a fascinating discussion.
End of Morning Session
Lunch and Presentation Sponsored by the IBC
12:00pm - 2:00pm
President & CEO, IBC
As recent events have dramatically demonstrated, resilience to severe weather is vital for
the protection of people and property as well as the economy.
Don Forgeron will address this ‘new normal’ in terms of current and future vulnerabilities.
Global Reinsurance Panel
2:00pm - 3:00pm
Managing Director, Reinsurance, Towers Watson
CEO, Hannover Re
Chairman, ACE Tempest Re Group
President, Everest Reinsurance Company
Senior Underwriter, Pembroke
The NICC’s global reinsurance panel is always an eye-opener. This year’s panel will be moderated by Bill Eyre of Towers Watson who is well-known to many in the audience. Bill and his panel of leaders from the world’s key markets will share their insights into what cedants and reinsurers can expect at renewal time and looking forward into 2014.
Networking Break sponsored by CI Top Broker
3:00pm - 3:30pm
Afternoon Concurrent Sessions
3:30pm - 4:30pm
Partner, Blaney McMurtry LLP
General Counsel & Corporate Secretary, Chubb Insurance Company of Canada
Cars are the product of the automotive industry. Medicines are the products of the pharmaceutical industry. Each industry devotes significant time and resources developing and testing their products. The insurance policy and the reinsurance agreement are the product of the Insurance Industry. Do we take the same care? Three experienced, senior counsel bring their unique perspectives to an assessment of the Insurance and Reinsurance Industry products.
The panelists will not simply discuss the “final product” but the strengths and weaknesses in the policy/reinsurance agreement development process itself. Is there sufficient due diligence in creating, adjusting and marketing the product? Are “plain wording” contracts reducing disputes with brokers and policyholders? Have Treaty and Facultative agreements been suitably adjusted to reflect modern commercial reality? The panelists will ultimately consider whether the Insurance Industry brings to its “product” development the same due diligence and resources expected of their policyholders when they design, develop and market their own products.
Executive Director, Institute for Catastrophic Loss Reduction
Head - Prairie & Arctic Storm Prediction Centre at Meteorological Service of Canada
Research Engineer, US Insurance Institute for Business & Home Safety
Manager, Actuarial R&D, Aviva Canada
In recent years Canada’s insurers have experienced record-high storm damage claims. The majority of recent large storm loss events were in the Prairie provinces, involving damage from hail, severe wind and water. Several of the largest recent losses were summer storm events in Edmonton, Calgary and southern Alberta. This panel will explore this peril from the perspective of a meteorologist, an insurer, and loss prevention researcher. What factors contribute to the development of severe storms in the Prairies? What actions are insurers taking to managing this peril? What knowledge is emerging about best practices to prevent future damage from hail and other summer storm hazards?
End of Afternoon Concurrent Sessions
Cocktail Reception sponsored by Standard and Poor’s (6:30 – 8:00pm)
Gala Dinner and Entertainment (8:00pm)
Dinner Co-Sponsored by Guy Carpenter and PCS-Canada;
Wine sponsored by PwC
Entertainment sponsored by AIR Worldwide
Tuesday, September 24
Breakfast sponsored by Towers Watson
7:30am - 8:30am
General Session - Global Economic Outlook
8:30am - 9:15am
Chief Economist, Head of Swiss Re Economic Research & Consulting, Swiss Reinsurance Company Ltd
This presentation will review the outlook for the global economy with a particular focus on the Canadian and US economies. It will touch on the prospects for interest rates, foreign exchange rates, commodities, and equities. As the Chief Economist of Swiss Re, Mr. Karl is exceptionally well-positioned to convey this financial backdrop in a manner that is relevant to insurers and will prepare you to face what lies ahead in 2013 and 2014.
Morning Concurrent Sessions
9:20am - 10:35am
Vice President, Consulting Services, CGI
President & CEO, Traffic Injury Research Foundation (TIRF)
Chief, Ergonomics & Crash Avoidance, Transport Canada
President & COO, Industrial Alliance Auto & Home Insurance Inc.
Auto insurance is a foundational pillar of the Canadian P&C industry, comprising over 50% of the industry’s premium volume. This sometimes volatile mainstay is on the cusp of a technological revolution that is already changing the competitive underwriting and claims landscapes. This expert panel will discuss the implications of crash-avoidace systems, self-driving vehicles, telematics and pay-as-you drive insurance which, together, beg the question: ‘Are we approaching the end of auto insurance?… or, rather, the end of auto insurance as we know it?’
Principal, Supply Chain & Manufacturing, Deloitte
Managing Director, Marine Practice, Marsh Canada
Director, Strategic Business Risk Management, Zurich Financial Services
Supply chains are becoming highly sophisticated and vital to the competitiveness of many companies. On the other hand, their interlinked, global nature also makes them increasingly vulnerable to a wide range of risks.
A number of internal and external forces are converging to raise the risk ante for global supply chains. Some are macro trends, such as globalization and global connectivity which are making supply chains more complex and amplifying the impact of any problems that may arise. Others stem from the never-ending push to improve efficiency and reduce operating costs. Although trends such as lean manufacturing, just-in-time inventory, reduced product life-cycles, outsourcing, and supplier consolidation have yielded compelling business benefits, they have also introduced new kinds of supply chain risk and reduced the margin for error. The knock-on effects of supply-chain disruptions on insurers are significant – from business-interruption, CBI losses, product liability cases and growing legal expenses. Getting a handle on these risks is not for the faint of heart but this panel is more than up to the challenge.
End of Morning Concurrent Sessions
Networking Break sponsored by Carfax
10:35am - 11:00am
Is Time for Flood Insurance in Canada Nigh? - A Debate
11:00am - 11:55am
Industry Expert and Former CEO
SVP, General Insurance, TD Insurance
President and Chief Executive Officer, The Co-operators Group Limited
Flood insurance is a contentious topic. On one hand, consumers are hampered by the inability to buy it in Canada despite an obvious need. On the other hand, the product involves significant challenges, including the current lack of proper risk assessment tools for pricing it and the potential for adverse selection. Can a sustainable flood insurance product be developed for Canada? Join the debate and find out.
Where's the Action in Class Actions? A 'No Holds Barred' Debate
11:55am - 12:40pm
Founding Principal Kim Orr, Barristers
Partner, Bennett Jones
If you attended the first ever NICC back in 2007, you will remember the ‘Battle Royale’ between a younger Won Kim, a tenacious plaintiff class action lawyer who took on the industry in the ‘salvage case’ and Fasken’s John Campion, who vanquished him in that same case. The clash is immortalized in a video you can find in the archives section of the NICC site. Well, Won is back! Leaner and meaner! And this time he is up against Rob Staley, a class action defence lawyer who has represented clients like RIM and Sino-Forest. What has changed in the world of class actions? What can insurers do to better defend their policyholders and themselves? Like we said back in ’07 – sparks will fly! And once again, this session alone is worth the price of admission!
End of Morning Sessions
Closing Lunch sponsored by CIP Society
12:40pm - 2:00pm
29th Premier of Québec & Former Deputy Prime Minister of Canada
Following his speech, Mr. Charest will sit down for an engaging conversation with our own Amanda Lang. Audience Q&A will follow.
Social Guests Welcome
Conference Wrap Up
President & CEO,
MSA Research Inc.
NICC 2013 Accredited by RIBO
Both days (September 23-24, 2013)
5 Hours Management; 4 Hours Technical