October 24, 2024

The future of Financial Services Regulation and what it means for your sector

Join us for the second annual FSRA Insurers Board Directors Conference as our line-up of industry and regulatory leaders discuss current issues, innovations, and the evolving landscape of financial services regulation and how that will impact you, your organization, and your sector. It’s also a great opportunity to network with your peers and the FSRA team.

Key takeaways from the conference include:

  • supporting and strengthening board directors understanding of principles based regulation (PBR), risk based supervision (RBS), and related accountabilities for Insurer boards
  • the importance of effective corporate governance and resilience to promote sector stability in a dynamic environment
  • developing and strengthening relationships with union boards and FSRA

Agenda

Time

8:00 am – 9:00 am

Conference registration and breakfast

9:00 am – 9:30 am

Opening remarks – The Ontario Advantage
Mehrdad Rastan, Executive Vice President, Credit Union and Insurance Prudential, FSRA

 

The magnitude and rate of change in the insurance sector poses challenges, yet provides opportunities to grow the business and remain long-term viable and sustainable. FSRA and Insurer boards have distinct and critical roles in ensuring that within the Ontario regulatory regime the sector evolves to continue to effectively meet the needs of its policyholders, beneficiaries and subscribers in this rapidly changing financial services landscape.

9:30 am – 10:15 am

Session 1 – The role of Board Directors in a PBR environment
Jordan Solway, Executive Vice President, Legal and Enforcement, FSRA

 

FSRA’s approach to principles-based regulation enhances consumer protection, facilitates innovation and leads to more efficient and effective regulation. Board directors play a vital role in this culture shift toward an emphasis on communication, collaboration, and transparency.

10:15 am – 10:45 am

Networking and refreshment break

10:45 am – 11:30 am

Session 2 – Risk Based and Integrated Supervision
Samreen Hossain, Director, Insurance Prudential Supervision, FSRA
Erica Hiemstra, Head, Insurance Conduct, FSRA

 

FSRA uses an integrated (prudential and market conduct) Risk Based Supervisory Framework (RBSF-I) to ensure safety and soundness and identify imprudent or unsafe business practices impacting policyholders and beneficiaries. Learn how board directors can contribute to public confidence in the insurance sector by promoting high standards of business conduct that foster a strong, sustainable, competitive, and innovative financial services sector.

11:30 am – 12:15 pm

Session 3 – Evidence Based Policy
Dan Padro, Head, Policy – Core Regulatory, FSRA
Steve Kokaliaris, Director, Approvals and Insurance Prudential Practices, FSRA

 

Join our experts as they elaborate FSRA’s 4-year workplan on Rules and Guidance. Board directors will learn more about upcoming guidance, including Own Risk and Solvency Assessment, Internal Capital Targets, Corporate Governance, and Operational Risk and Resilience.

12:15 pm – 1:15 pm

Lunch and networking break

1:15 pm – 1:45 pm

Q&A session: Open time to ask the FSRA team your questions

1:45 pm – 2:15 pm

Session 4 – Effective Corporate Governance
David Maxwell, Head, Regulation and Strategic Initiatives, FSRA

 

Effective corporate governance is the foundation of a strong and sustainable insurance sector. Board directors will learn more about the steps FSRA is taking to protect consumers and promote a sustainable insurance sector through the principles of effective corporate governance.

2:15 pm – 3:15 pm

Session 5 – Sector Panel: Promoting Resilience in a Rapidly Changing Environment
Panelists: To be confirmed. Check the FSRA website for updates.
Moderator: Samreen Hossain, Director, Insurance Prudential Supervision, FSRA

 

Learn how board directors can help their organization and companies achieve resilience through enhancing crisis preparedness and improving their ability to monitor and anticipate escalation of risks and stresses.

3:15 pm

Conference end

3:15 pm – 4:00 pm

Networking and refreshment break