CLHIA-ACCAP

In my ten years at the CLHIA, I can say with considerable certainty that this past year has involved more high-profile and difficult files than any other years. The CLHIA has been fully engaged in working with our member companies to fight for outcomes that make the most sense for the industry and, ultimately, its customers. Further, we have also continued to make improvements to our own internal processes at the CLHIA in order to serve our members better. Operational Highlights As noted by our Chair Dean Connor, the CLHIA continues to play an increasing role in contributing to the debate around public policy and recorded a number of key successes in the past year. Beyond those, there were also a number of important areas where we continued to move the yardsticks forward on the operational front. For example, we entered the implementation phase further to the industry's recommendations aimed at making travel insurance a better understood product. We also shared these initiatives with our regulators to demonstrate the industry's willingness to make meaningful change in this area, which they have recognized. Another area that is always of significant importance to the industry is the work we have been doing on capital issues. An immense amount of effort continues to be invested by the CLHIA in smoothing the way for the implementation of OSFI's new capital framework for 2018, the Life Insurance Capital Adequacy Test (LICAT). This includes dealing with a number of company-specific problems, when implementation of some of the original concepts would have led to significant harm to individual companies. Other Notable Achievements With respect to improving service to our members, a good example is the ACCAP- Quebec office which really proved its worth over its first full year of operation and is now well established and clearly having a positive impact on the industry's effectiveness and profile in the province. At the CLHIA itself, we also streamlined our operations last year by reducing the size of the Management Team. We also provided greater promotion opportunities at the director level, leading to enhanced A Message from the President and CEO The CLHIA has been fully engaged in working with our member companies to fight for outcomes that make the most sense for the industry and, ultimately, its customers. A Message from the President and CEO Board of Directors Review of the Year's Results CLHIA Code of Member Service Members CLHIA Officers Chair's Message

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