THURSDAY
April 11, 2019

 

The History of the CRC

The CRC Insurance Conference has become one of the premier Insurance conferences in the world. First held in 1956, the CRC Insurance Conference was a small gathering with local insurance representatives meeting for half a day to discuss reinsurance matters. At that time, companies were involved in reciprocal risk-sharing arrangements in order to facilitate placement of large face amount policies. The purpose of the meeting was to expedite these transactions.

From this, the CRC has evolved into a vibrant one-day conference covering a breadth of insurance topics facing the market today. We regularly attract over 500 attendees from all over the world including insurers, reinsurers, retrocessionaires, insurtechs, regulators, and consulting firms. The continued strong attendance is a testament to our continued success in delivering value to the industry.

From that simple beginning, the CRC has evolved to a full day conference format which now regularly attracts over 500 attendees from the insurance, reinsurance, and retrocession industries in Canada, the U.S., and abroad. Approximately 70% of the attendees are from Canada, 25% from the U.S., and 5% are international.

We are dedicated to providing a forum where industry professionals can obtain insights which are impacting and changing our industry.

We are excited for you to join us at our upcoming conference!

Notations

Governance:The CRC is planned and executed by an executive committee of ranging from six to eight members, drawn from the insurance and reinsurance industry in Canada. Committee members serve for 3 years, with terms staggered so that two to three people leave the committee and new members join each year. This structure provides continuity and ensures there are always experienced members with knowledge and insights for the group to draw on. New committee members are selected by the existing committee into one of two streams. One incoming member will serve as a director in their 3-year term. The other new member will take on the roles of incoming chair, chair, and past chair.

Canadian Reinsurance Guidelines:One of the roles of the CRC executive committee had been to sponsor the preparation of the Canadian Reinsurance Guidelines. First issued in 1984, they provide an industry standard of practice which is relied upon by insurers and reinsurers across Canada. Many companies use the guidelines as a basis for preparing minor changes to their reinsurance treaties. In situations where a treaty is not in place, or it is silent on a particular topic, the guidelines are looked to by both parties to determine the terms of their relationship. In 2006 the responsibility for maintaining and updating the guidelines was moved to the CLHIA.