Other Interesting Sites

FIRST Initiative 
FIRST is a US$53 million program funded by the World Bank, USAID, the Inter-American Development Bank, the Canadian International Development Agency and other international funding organizations, to support capacity building and policy development projects in the financial sectors of developing countries. FIRST provides technical assistance grants for short-term and medium-term projects in the areas of financial sector regulation, supervision and development. LS&A joined a selected few insurance and pension supervisory consulting organizations world wide by participating in many FIRST sponsored projects.http://www.firstinitiative.org

Toronto International Leadership Centre for Financial Sector Supervision
The Toronto Centre was established in 1998 as a forum where leaders from the international community of financial supervisors can share their real world experiences about financial sector systemic and institutional rescues and failures, and enhance their skills for implementing effective supervisory regimes. The Centre has already conducted several successful programs involving Program Participants from over 60 countries. The World Bank, the Government of Canada and the Schulich School of Business at York University are the Toronto Centre’s primary sponsors.

Until recently the focus has been on bank supervision but in 2000 the Centre is broadening its program to include insurance and securities supervision. Lawrie Savage serves on the Insurance Advisory Board. The Toronto Centre site is at: http://www.torontocentre.com

The Canadian Institute of Actuaries 
The Canadian Institute of Chartered Accountants
The Canadian Institute of Actuaries is responsible for setting standards for the more than 2,200 professional actuaries comprising the profession in Canada. The actuarial and auditing professions in Canada are allocated important roles in the financial supervisory process, carrying out many of the tasks which make the Canadian risk based system highly functional, efficient and effective. Both professions work closely with the financial supervisors in the country to harmonize approaches to emerging issues and to contribute to the development of appropriate laws and regulations that bear on accounting, auditing and actuarial issues. The web sites for the two professional Institutes have a huge amount of useful information about Canadian standards in these areas. http://www.actuaries.ca/

Insurance Bureau of Canada (IBC) 
The IBC is the trade association representing more than 120 private enterprise, general insurance companies and groups of companies in Canada. LS&A is an Associate member of the IBC. In Canada there is a tradition of both the IBC and CLHIA (below) playing an important role in the supervisory framework, primarily by working closely with legislators and regulators to provide constructive assistance in the development and evolution of insurance laws. IBC’s web site includes much information that will be of interest and benefit to consumers, as well as material that is more relevant to IBC member companies: http://www.ibc.ca

Canadian Life and Health Insurance Association (CLHIA) 
The CLHIA is the trade association for life and health insurers in Canada. Having become active in 1894, it is the oldest insurance organization in North America. In Canada there is a tradition of both the CLHIA and the IBC (above) playing an important role in the supervisory framework, primarily by working closely with legislators and regulators to provide constructive assistance in the development and evolution of insurance laws. The CLHIA web site is at:http://www.CLHIA.ca/

The Canadian Bankers Association 
The CBA is the trade association for the Canadian banking industry. Like the IBC and CLHIA, the association not only represents industry positions in discussions with Canadian regulators, but it also works closely with the regulators in a spirit of cooperation to help to develop effective legislation. Input from the Association helps to ensure that the legislation will be workable and not unduly burdensome to the industry, thereby keeping system costs (which will ultimately be borne by consumers) to a minimum. http://www.cba.ca

International Association of Insurance Supervisors (IAIS) 
The more than 100 country members of IAIS have been successful in helping to bring a degree of harmonization to insurance supervision world wide, thus adding to financial stability and helping to ensure financial protection and fair treatment of policyholders. LS&A is an Observer Member of IAIS. Site map is at: http://www.iaisweb.org/

National Association of Insurance Commissioners (NAIC) 
NAIC is the organization representing insurance regulators in the United States. Members consist of the insurance departments in the various states, along with the District of Columbia and U.S. territories. Insurance is regulated at the state level in the U.S., differing from the Canadian situation which is explained above. NAIC as an organization seeks to harmonize insurance legislation across the states and in many cases puts forward draft legislation which can serve as a model for adoption by different states. NAIC has an extensive web site at:http://www.naic.org/

Life Insurance Marketing Research Association (LIMRA) 
LIMRA is almost 100 years old and provides marketing research information to more than 800 member organizations. However the LIMRA site also has interesting and useful information regarding life insurance marketing research that can be accessed by non-members. The site is at: http://www.limra.com/

Life Office Management Association (LOMA) 
LOMA has done an exemplary job over the years of providing educational training to members of the life insurance industry, mostly in the United States and Canada but increasingly internationally as well. Insurance supervisory personnel have also greatly benefited from LOMA training. The site is at: http://www.loma.org/

Mr. Okubo’s Amazing Web Site 
This huge site is run by Makoto Okubo. There are links to many good information sources with regard to insurance supervision, changing insurance laws and related material, for United States, Canada and internationally. The site has the apt URL: http://www.insurance-finance.com/

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