2012 Conference


CIFF 2012 Photo Gallery

Browse the CIFF 2012 agenda here or click here to download the brochure (PDF).

Thursday, May 24, 2012 - Metro Toronto Convention Centre, North Building, Level 100
(Click on the speakers names to view their Bios)

7:30-8:30am Registration and Breakfast
sponsored by Ernst & Young

 Welcome and Acknowledgements 8:30-8:40am

Graham Segger, CIFF Conference M.C.

Review of Industry Results and Outlook 8:40-9:00am

Joel Baker, President and CEO, MSA Research Inc.

2011 was another challenging, as well as transformative, year for Canadian insurers with significant consolidation moves, weak results in personal lines as well as modest developments in commercial and reinsurance arenas. From his vantage point at MSA, Joel will share his outlook for the various industry sectors in 2012 and into 2013.

CFO Panel - Challenges for 2012/2013 and Beyond 9:00-10:00am

Moderator: Graham Segger, FCA, Retired Partner, Deloitte & Touche

Panelists:
Grant McEwen, SVP and CFO, Chubb Insurance Company of Canada
Jonathan Turner, SVP and CFO, Swiss Re Canada
Doug Hogan, SVP and CFO, The Dominion

This conversational style panel will provide an opportunity for these knowledgeable CFO's to share their thoughts on a myriad of issues including those presented by current market conditions. The CFO’s come from with varying backgrounds placing them in an excellent position to provide us with objective observations on how the industry is responding to current challenges and opportunities. This panel will set the stage for the day!

Networking Break 10:00-10:30am

MORNING CONCURRENT SESSIONS

1) Understanding and Leveraging Economic Capital
10:30-12:00pm

Moderator: Bill Weiland, Principal, Eckler Ltd.

Panelists:
Don Mango, Head of Global Advisory, Guy Carpenter
Chris Townsend, Managing Director, Actuarial Division, OSFI
Alexander König, Head of Business Development Europe, Swiss Re

Economic Capital (EC) provides a measure of the amount of capital needed to ensure the solvency of an insurer.  It seeks to measure all categories of risks that an insurer takes on and their interaction, in order to determine the amount of capital needed to support those risks.  As such, EC is a more accurate measure of risk capital than that provided by traditional capital metrics.  This outstanding expert panel will explore best practice approaches to implementing EC within P&C insurance enterprises and discuss the advantages of in-depth examination of an insurer’s capital requirements.

2) Developments in Predictive Modelling
10:30-12:00pm

Moderator: Barb Addie, President, Baron Insurance Services

Panelists:
Lamont Boyd, Director Insurance Scores, FICO
Roch Lacroix, Senior Consultant, Canada, EagleEye Analytics
Paul Taylor, Director of Operations, IBAO

Actuarial predictive modelling is being used increasingly in personal lines as well as in small commercial ratemaking. This panel will explore both technical and regulatory developments in Canada and the US. These methods are not embraced by all so we predict a debate... with 99.5% certainty.

3) What Insurance Finance Executives are Thinking and Doing 
10:30-11:30am

Doug Gray, Partner, Deloitte
Mary Ann Finn, Partner, Deloitte

This  session will  review the  highlights of Deloitte’s latest North American CFO survey that tracks the thinking and actions of finance leaders representing many of the largest and most influential companies.  The survey summarizes opinions in five areas: career, finance organization, company, industry and economy. Attendees will be polled using voting technology to gauge their agreement with the issues, whether they are facing similar challenges and to understand current unique issues facing the Canadian insurance sector.

End of Morning Concurrent Sessions

Lunch 12:00 - 1:30pm
sponsored by PricewaterhouseCoopers

Keynote Luncheon Speaker: Avery Shenfeld, Chief Economist, CIBC World Markets Inc.

From his vantage point as the chief economist of CIBC World Markets, Avery Shenfeld will provide an analysis of Canadian economic conditions in the shadow of a troubled global environment. Mr. Shenfeld will also address the 'low for long' interest rate environment that is putting signfiicant pressure on insurers and other financial institutions in North America.

EARLY AFTERNOON CONCURRENT SESSIONS

1) Auto in Transition…To What?
1:30-2:30pm

Moderator: Richard Gauthier, Partner, PwC

Panelists:
Nora Hohman, VP Claims, The Dominion
Ron Miller, President, Exactor Insurance Services
Anne-Marie Vanier, Chief P&C Actuary, RBC Insurance

Are the improvements in Ontario auto sustainable or are we headed to another crisis? What about Alberta and Atlantic Canada? Are rates approaching adequacy? AB might be improving but what about BI? This actuarial and claims-focused panel will tackle these thorny issues head on.

2) Tax Issues
1:30-2:30pm

Margaret McCreery, Insurance Industry Specialist, Canada Revenue Agency
Nunzio Tedesco, Partner, KPMG
Jeff Sadrian, National Director, Large Business Audit Programs, Canada Revenue Agency

Canada Revenue Agency has begun to roll out its new risk based audit approach, which will rely on industry intelligence and analysis rather than rote selection.  What does this mean for P&C insurers?  This panel will explore the objectives of the new program and the audit history that led to its development.  Also included will be a number of diverse tax-related topics facing insurers and their partners such as marine insurance, excise tax, IFRS Phase II and earthquake reserves.

LATE AFTERNOON CONCURRENT SESSIONS

1) How Smaller Insurers Compete
2:40-3:40pm

Moderator: Steve Lee, Partner, E&Y

Panelists:
Kevin McNeil, President & CEO, Gore Mutual
Steve Dobronyi,  CEO, EGI Financial Holdings Inc.
Jonathan Broer, Managing Director, FIG, TD Securities

Smaller insurers are facing an ever changing spectrum of challenges from massive competitors with armies of actuaries and sophiscticated technological tools, as well as from complex and burdensome regulatory developments. Still smaller insurers can continue to thrive. This panel will explore how.

2) Developments in CAT Modelling
2:40-3:40pm

Moderator: Anya Sri-Skanda-Rajah, Managing Director, Guy Carpenter

Panelists:
Ryan Ogaard, SVP, RMS
Dan Dick, Executive Managing Director, Aon Benfield Analytics
David Lalonde, SVP, AIR Worldwide

Catastrophic losses, arising from both natural and man-made events, are frequently considered the most significant threat to the financial strength of P&C insurers and reinsurers due to the significant, rapid, and unexpected consequence that such events can have on financial results. While many other exposures to risk can affect P&C insurers’ solvency, no single event can jeopardize the financial protection provided to policyholders more instantaneously than catastrophes.

Catastrophe models are a critical risk management tool for insurers and reinsurers and are central to a company’s best practices for catastrophe risk management. Catastrophe models are recognized world-wide as a key tool for assessing an insurer’s risk and determining its capital requirements.

In this session, we will hear from leading experts in catastrophe modeling. We will discuss the latest developments in catastrophe models, emerging trends in the use of these models, the uncertainty surrounding catastrophe models, and finally best practices for the use of catastrophe models. The presentations will provide both the global and Canadian perspectives.

3) IFRS - Standards in Motion
2:40-3:40pm

Alodie Brew, Partner, PwC
Craig Pinnock, CFO, Northbridge Financial Corporation

As the first year of IFRS adoption is fading away in the rear view mirror, we need to keep our eyes on the road ahead for upcoming changes. The IASB's road map includes a number of standards which will likely impact most insurers. Other than the long awaited standard on Insurance Contracts - let's not hold our breath! - financial instruments, fair value, employee benefits, consolidation, leases... are just a few of the speed bumps and pot holes on the road ahead of us. Alodie will summarize the requirements and direct traffic, while Craig, who is in the driver's seat, will give his views on implementation challenges.

End of Afternoon Concurrent Sessions

Networking Break 3:40-4:00pm
sponsored by Deloitte & Touche

General Session: View from the Street
4:00-5:00pm

Moderator: Neil Parkinson, Partner, KPMG

Tom MacKinnon, Managing Director, BMO Capital Markets
Doug Young, Vice President and Director of Financial Services Research, TD Securities
Paul Holden, Equity Analyst, CIBC World Markets

Serving at the intersection of investors, companies and the broader capital markets, investment analysts play a vital role in analysing, understanding and directing investments into the insurance sector. Join us for a session with Bay street’s top rated analysts who will discuss the key figures, factors, and trends that make an insurance company a desirable investment. The session promises to provide insight, and a healthy debate on the street’s view of the insurance industry as we wrap up the day.

Closing Remarks by Joel Baker 5:00pm

Closing Cocktail and Networking Event 5:00-6:00pm

RIBO Accreditation:
We are pleased to advise that the CIFF is accredited with RIBO for continuing education credits: 6.5 hours in the Management category.