Virtual International Leadership Program for Insurance and Pensions Supervisors III

Crisis Management, Technology Risk, and Climate Change: How to integrate these ‘threats’ into supervision

Monday, October 19, 2020 - Wednesday, October 21, 2020

Registration is now closed. 

Program Overview

The uncertainty and rapid spread of COVID-19 is having a significant impact on the global economy and, consequently, on the financial system. Insurers have an essential role to play during this crisis by continuing to provide their products and services to individuals, households, and businesses. The current low interest rate environment and heightened levels of market volatility will significantly impact solvency and funding positions of pension plans. Insurance and pensions supervisors must continue to be vigilant, creative and take the necessary, bold and timely steps to promote the safety and soundness  and operational resilience of their supervised entities, in support of the protection of policyholders and pension plan holders, and the maintenance of financial stability.

Supervisors and regulators must think beyond traditional risks and incorporate technology, cyber-security and climate-related risks and financial inclusion in their supervisory capacity by adapting their risk assessment frameworks and  regulatory responses to effectively deal with financial crises, while continuing to deliver  on their early intervention mandate. Toronto Centre has designed this program to help supervisors and regulators in the insurance and pensions sectors integrate key emerging risks into their supervisory risk assessments, as appropriate. This virtual program will provide an excellent platform for participants to generate ideas to address key emerging risks while discussing their own experiences and learning from leading experts and practitioners.

Topics Covered:

  • Overview of emerging risks to supervised entities, consumers, and financial stability
  • How are supervisors and regulators responding to the impact of COVID 19 pandemic
  • Emerging challenges of Business Continuity Planning (BCP)
  • The multi-dimensional implications of evolving climate-related risks for the insurance and pensions sectors
  • Reducing vulnerability of consumers to climate related and other environmental risks due to weak financial literacy and low financial inclusion.
  • How digital innovation is changing the risk landscape for the Insurance and Pensions sectors
  • New paradigm of operations: how to understand new operating environments and build operational resilience to combat fraud and potential market conduct abuses
  • How regulators and supervisors should monitor cyber-security risks
  • Crisis management, lessons learned and its impact on insurance and pensions entities and supervisory responses.

Who Should Attend?

The program is designed for mid- to senior level staff and management from insurance and pensions supervisory authorities involved in regulatory and supervisory activities. Participants should have at least three years of working experience in the financial sector supervision, research and analysis, or policy, and be proficient in English.

Registration Details

Program Fee: Waived.

Where is the Program?

Online

Program Materials

Program Venue

Online

Program Contact

Adriana Martin
amartinalmendro@torontocentre.org