Governance

 

      

BACKGROUND

GENERAL INSURANCE STATISTICAL AGENCY (GISA)

 

THE AGENCY

The GENERAL INSURANCE STATISTICAL AGENCY/AGENCE STATISTIQUE D'ASSURANCE GENERALE was incorporated as at June 28, 2005 as an independent legal entity under the Canada Corporations Act – Part II to carry out the activities of a statistical agent on behalf of all participating Canadian jurisdictions.

 

In this capacity, GISA has the ability to enter into contracts, collect revenue and incur operating and capital costs related to the activities of a statistical agent. 

 

GISA’s Mandate

The mandate, or purpose, of GISA is to collect, and make available, required statistical information to support a healthy, accessible and responsive marketplace for property & casualty insurance.  GISA’s mission is to provide effective oversight of the statistical information and related insurance data,  and to ensure that timely, reliable and accurate information is efficiently produced.

 

GOVERNANCE

GISA has established the following governance structure to fulfill its mandate and carry out its activities:

Governance Structure

 

Board of Directors

GISA’s governance structure consists of a tripartite Board of Directors of up to 14 members comprising of regulators, industry representatives and public representatives.  

 

Board Committees

Three Board committees, an Executive Committee, a Finance and Audit Committee, and a Statistical Plan Committee, have been established to provide stewardship and strategic management of the agency. 

 

Executive Committee

The Executive Committee provides stewardship and strategic management for GISA. Its mandate is to provide ongoing oversight and direction in the operation of the agency. During the year, the Committee met four times.


The Executive Committee:

Finance & Audit Committee

The Finance & Audit Committee assists the Board in fulfilling its financial oversight responsibilities. The Committee reviews GISA’s financial risks, results, and reporting systems and provides advice and makes recommendations to the Board with respect to:

Statistical Plan Committee

The Statistical Plan Committee assists the Board in fulfilling its oversight responsibilities pertaining to the collection, analysis and reporting of statistical and financial information. The Committee oversees, provides advice and makes recommendations to the Board with respect to:

 

 

 


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