IIC Governance
The Insurance Institute of Canada is governed by a Board of Governors that meets annually to receive reports, address policy issues and approve finances for the organization. The board is comprised of executives from major insurance employers across Canada, together with representatives of local Institute councils.
The Executive Committee is the senior decision-making body within the Board of Governors. It also oversees its four sub-committees (Finance, Nominations, Pension and Compensation).
Board of governors
The board members are elected to represent members of local institutes and chapters as well as the senior industry leadership.
Councils
The Insurance Institute has many different councils. Two advisory councils—the Academic Council and Professionals’ Council—report into the Executive Committee and the Board of Governors. Additionally, each local institute and chapter has their own council.
By-laws
The Insurance Institute of Canada operates under Revised By-Laws effective October 2013.
IIC Board of Governors
The board members are elected to represent members of local institutes and chapters as well as the senior industry leadership. The board is comprised of:
- Up to five governors representing the membership-at-large
- Two directors from each local institute whose membership is 400 or more, plus one director from each chapter, of such local institute, having a membership of more than 400
- One director from each local institute whose membership is less than 400
- Four regional vice-chairs (one from the institutes in the four Atlantic provinces, one from Quebec, one from Ontario and one from the five Western institutes).
- The immediate past chairs of the Institute: Jason Storah, BA (Hons), Economics, and Valérie Lavoie, BASc
- The chairs of the Academic and Professionals’ Council (divisional chairs)
Chair of the board
At the 71st Annual General Meeting, held October 29, 2024, James Russell, BMath, FCIA was elected Chair of the Board of Governors of The Insurance Institute of Canada (IIC). James Russell is President and CEO of TD Insurance based in Toronto, Ontario.
IIC Councils
Academic council
The Academic Council is responsible for the design and delivery of national educational programs and ensuring professional development opportunities are responsive to the needs of Institute members and the insurance and financial services industry. The Academic Council is headed by a chair who is appointed by the Executive Committee and includes a group of ten professionals representing the Institute membership from all sectors of the industry and all regions of Canada.
The Council also revises the national examination service, including the rules and regulations that provide the foundation for the high standards that exist for the Institute's programs. The CIP sub-committee reports to the Academic Council and monitors the CIP Program to ensure that the text material is current and relevant.
Professional's council
The Professionals’ Council’s role is to build awareness and recognition of the Institute's CIP and FCIP designations among insurance professionals and the public. The Council is also responsible for providing professional development opportunities at the academic and experience level of Institute graduates as well as networking opportunities. In addition, the Council promotes the benefits of membership in the CIP Society and encourages students to pursue insurance careers through the Career Connections program.
The Professionals’ Council is headed by a chair, appointed by the Executive Committee. The Council includes a group of ten professionals representing the community of Institute graduates from all sectors of the industry and all regions of Canada.
Local councils
Visit the Governance page to see the council members list for each local institute and chapter.
IIC By-laws
The Insurance Institute of Canada operates under Revised By-Laws effective October 2013. For further information please contact jbalderosa@insuranceinstitute.ca.
Accompanying document: Revised Insurance Institute of Canada by-laws - October 2013 [PDF]