Fault Lines: Earthquakes, Insurance, and Systemic Financial Risk
Roundtable Luncheon with Charles Brindamour and Nicholas Le Pan
Sponsored by:
There is at least a 30 percent chance of a significant earthquake to hit British Columbia in the next 50 years. Since the financial crisis of 2007/08, however, policymakers have focused on systemic risk to financial and economic systems, with most of the attention on the banking system. The framework for these efforts has been to build resiliency and shock absorbers to minimize the impact of financial shocks on the real economy. What hasn’t been fully considered is the risk of a catastrophic earthquake would have on the real economy. How much damage would it cause? What would the losses be? Can the insurance industry bear it? Can the banking system bear it?
Join the C.D. Howe Institute on November 29th to learn from our expert faculty as they unpack these pressing questions.
Charles Brindamour, Chief Executive Officer, Intact Financial Corporation
Charles Brindamour is Chief Executive Officer of Intact Financial Corporation; Canada’s largest Property & Casualty insurance provider. He began his career with Intact in 1992 and has held progressively senior roles, in Canada and abroad, within Intact and its former affiliates, including Senior Vice President of Personal Lines, Executive Vice President and Chief Operating Officer. Mr. Brindamour was appointed as President and CEO in January, 2008.
Under Mr. Brindamour’s leadership the Company became an independent and widely-held Canadian company in 2009 and two years later engineered the acquisition of AXA Canada; the largest acquisition in the history of Canada’s property and casualty insurance industry. With market capitalization of more than $12 billion as at December 31, 2015, Intact Financial ranks amongst the largest companies listed on the TSX.
Charles Brindamour is a graduate of Laval University in Actuarial Sciences and an Associate of the Casualty Actuarial Society. He is a board member of Intact Financial Corporation, Hydro One Limited, the C.D. Howe Institute, Branksome Hall and the Insurance Bureau of Canada. He is also a member of the Advisory Committee of the University of Waterloo’s Climate Change Adaptation Project, serves on the advisory board of Gibraltar Growth Corporation and is co-chair of Laval University’s “Grande Campagne”.
Nicholas Le Pan, Former Superintendent of Financial Institutions, Canada; Director, CIBC; Chair of the Financial Services Research Initiative, C.D. Howe Institute.
Mr. Nicholas D. Le Pan served as a Superintendent of Financial Institutions for Canada from 2001 to 2006 and as a Deputy Superintendent, Office of the Superintendent of Financial Institutions, Canada (OSFI) since May 2000. Since May 2007, Mr. Le Pan served for federal government as a Senior Expert Advisor to the RCMP on its white-collar crime unit, the Integrated Market Enforcement Teams. He has been involved in several international and Canadian regulatory coordination efforts, including serves as Chairman of the Basel Accord Implementation Group and a Vice Chairman of the Basel Committee on Banking Supervision.
He has been an Independent Director of Canadian Imperial Bank of Commerce since February 28, 2008. He is also the Chair-elect of the Canadian Public Accountability Board which oversees auditors of public companies, chairman of the Independence Review Committee of Brandes Investment Funds and a member of the board of the Toronto Centre for Leadership in Financial Sector Supervision.
Mr. Le Pan holds a Bachelor of Arts (Honours) degree in Economics from Carleton University and a Master of Arts degree in Economics from the University of Toronto.
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