Alister Campbell named Chair of the International Forum of Insurance Guarantee Schemes

Yangig Cho elected Vice-Chair

Toronto, Ontario, Canada, December XX, 2019 − At its Annual Meeting held at the Capitol Hilton in Washington, D.C. last week, the Membership of the International Forum of Insurance Guarantee Schemes (IFIGS) named Alister Campbell, CEO of Canada’s Property and Casualty Insurance Compensation Corporation (PACICC), as Chair. Yangig Cho, Executive Director and Member of the Board of the Korea Deposit Insurance Corporation (KDIC), was newly elected to serve as Vice Chair for the 2020 calendar year. Speakers and guests at this year’s Annual General Meeting included representatives from the U.S. Federal Reserve, the International Association of Insurance Supervisors (IAIS), the World Bank, as well as the European Insurance and Occupational Pensions Authority (EIOPA).

IFIGS was formed by a group of insurance guarantee schemes from around the world, interested in sharing their experiences in providing policyholder protection in the event of an insurance company failure. IFIGS has grown and now has 27 Full and Associate Members from 21 countries across North America, Europe, Asia and Africa. IFIGS facilitates and promotes international co-operation between insurance guarantee schemes, and other stakeholder organizations with an interest in policyholder protection. In addition to the Annual Meeting, IFIGS also hosts regular regional meetings to discuss issues pertinent to specific regions.

Said Incoming Chair Alister Campbell, “I am honoured to have been selected to serve in this role by my international peers. IFIGS has made huge strides in the past few years and I am fully committed to helping the organization engage directly and effectively with key stakeholders such as IAIS and EIOPA to help shape the future model for insurance guarantee schemes and policyholder protection worldwide.”

Said incoming Vice-Chair Yangig Cho, “I am very pleased to have been selected to serve in this role. KDIC has been proud to be part of IFIGS since the start, and we continue to see significant benefits from the mutual exchange of best practices and lessons learned from other member jurisdictions. I am eager to play my part in supporting the oganization’s continued expansion in both size and influence.”

The outgoing Chair of IFIGS is Roger Schmelzer, President and CEO of the U.S. National Conference of Insurance Guaranty Funds, who will continue to serve on the IFIGS Management Committee for 2020. Said Mr. Schmelzer, “It was a pleasure to host this year’s IFIGS Annual Meeting in partnership with the National Organization of Life & Health Insurance Guaranty Associations, and an honour to have served as Chair for the past year. There is so much to be learned from each of the Members of IFIGS and I am grateful for all that I have learned over my years on the IFIGS Management Committee.”

Next year’s IFIGS Annual General Meeting will be in Kuala Lumpur, Malaysia and will be held in conjunction with celebrations marking the 15th Anniversary of the founding of the Malaysia Deposit Insurance Corporation (Perbadanan Insurans Deposit Malaysia, PIDM). Says Mr. Campbell, “I am very much looking forward to meeting with this outstanding group of colleagues again in a few short months…but there’s lots of work to be done between now and then…and we’re looking forward to a highly productive 2020 calendar year for IFIGS and the principles of policyholder protection.”

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