CIA (e)Bulletin/(e)Bulletin de l'ICA
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December 2015
 
 

Message from the Executive Director

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By Michel Simard, Executive Director, CIA

As 2015 draws to a close, I think we can all agree that it was a hectic year for the CIA. Not only did we celebrate the 50th anniversary of the Institute, we also moved forward with our public interest portfolio and the Board’s strategic plan to develop non-traditional areas of practice, contribute to public policy debates pertaining to future financial contingencies and risks, expand the CIA’s educational output, and increase member engagement.

During the year, we made over 20 submissions to various governments and organizations across the country; we published public positions on pensions, health care, and climate change; we approved and published several research projects. We held numerous seminars and webcasts, and held a formal review of the University Accreditation Program (UAP).

In September, the Board received the results of the impression audit, conducted by Greenberg Quinlan Rosner (GQR), a research and polling firm. The results will help guide the strategic direction of the CIA’s public policy engagement. Early in 2016, we will hold a webcast for members to present the results of the impression audit. Watch for an announcement about this important information session. In 2016, we will continue to contribute to public policy with upcoming submissions on the following:

  • Canadian Association of Pension Supervisory Authorities (CAPSA) strategic plan;
  • International Standards of Actuarial Practice (ISAP) 1A and 5;
  • Recognition and Measurement of Social Benefits (with the International Public Sector Accounting Standards Board (IPSASB)); and
  • Priorities for Canada’s health care system.

Research papers on the following topics will be reviewed and approved for release:

  • Extended Health Care and Dental Experience: A Report on a Post-employment Benefits Experience Study
  • Tax-Deferred Retirement Saving in Canada
  • Canadian Individual Annuitant Mortality Experience – Policy Years 2002–2011
  • Segregated Funds Policyholder Behaviour Study
  • Critical Illness Claims Study for 2015–2016
  • Genetic Testing Model for CI: If Underwriters of Individual Critical Illness Insurance Had No Access to Known Results

The Board also discussed proposed changes regarding the protection of the public interest. This work arose from the First Principles Review of the CIA’s approach to Continuing Professional Development (CPD) and the recommendation by the 2014–2015 Governance Committee to introduce a requirement for members and those entering the CIA to report criminal convictions.

The report calls for bylaw changes to be voted on by members. There will be a 45-day consultation process with members in January and February. The usual protocol for bylaw changes, once the Board approves them, would then follow in April/May, and include additional informational webcasts, proxy voting, and finally discussion and approval at the General Business Session at the Annual Meeting in Newfoundland in June.

The upcoming year promises to be a busy one indeed!

I would like to thank our dedicated volunteer members and CIA Head Office staff for their tireless work in helping the Institute with its usual activities, while taking on the extra duties required to make our 50th anniversary celebrations so meaningful.

I wish you and your loved ones all the best for the holiday season, and a happy and prosperous 2016.

Michel Simard is the CIA’s Executive Director.

 

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