For well over a century, hundreds of competing property and casualty (P&C) insurance companies in Canada have honoured millions of claims—amounting to billions of dollars—promptly, and in full. Insurance company failures, although rare, can and do occur. That’s why Canada’s P&C insurance companies fund a special program, approved by government regulators, to protect policyholders and claimants. In the unlikely event of the failure of a P&C insurer in Canada, the industry-funded, not-for-profit Property and Casualty Insurance Compensation Corporation (PACICC) will respond to claims of policyholders under most policies issued by P&C companies. You don’t need to apply for protection; it is extended automatically to eligible policies.

Members of PACICC are the private companies which insure the homes, cars, businesses and other property of Canadians. As part of its preparedness, PACICC maintains a liquidity fund that is sufficient to cover the early cash flow requirements for the liquidation of an insolvent insurer.

Mission

PACICC’s mission is to protect eligible policyholders from undue financial loss in the event that a member insurer becomes insolvent. We work to minimize the costs of insurer insolvencies and seek to maintain a high level of consumer and business confidence in Canada’s property and casualty insurance industry through the financial protection we provide to policyholders.

Board Members

Glenn Gibson, Chair

Glenn Gibson, Chair

President and CEO, The GTG Group

Glenn Gibson is President and Chief Executive Officer of The GTG Group, and is Chair of the PACICC Board of Directors. He has more than 40 years of experience in claims administration. This includes 20 years of experience at executive-level management (C-suite) positions, including international engagements. Glenn has had leadership experience in the management of a number of major catastrophic events. He believes in continuous learning and teaching.

Glenn has published more than 250 articles and delivered almost 500 lectures to a global audience. He has added value to his profession and to his community by serving on more than 25 boards during his career. He has the unique experience of currently being Vice-Chairman of the Hamilton Tiger-Cat football team.

Anne-Marie Beaudoin

Anne-Marie Beaudoin

Consultant, Former Secretary General and Head of Access to Information and Privacy Autorité des marchés financiers

After studying law at the Université de Montréal, Anne-Marie Beaudoin was called to the Bar in 1983. She began her career in civil law and litigation in the Legal Department of Bell Canada, then the Société des alcools du Québec and in private practice. Beginning in October 1989, Anne-Marie served as Director of Legal Affairs, Director of Professional Services, Senior Advisor to the Branch and Director General and Acting Secretary of the Association des intermédiaires en assurance de personnes du Québec (now the Chambre de la sécurité financière). She then became Institutional Secretary at the Bureau des services financiers from February 1999 until its merger into the Autorité des marchés financiers (AMF) in 2004.

Having served as Director of the Secretariat, in June 2007 Anne-Marie was appointed Secretary of the AMF and Head of Access to Information and Privacy. From June 2011 to 2019, she served as Secretary General. She completed her Corporate Director certification in 2011 from the Collège des administrateurs de sociétés. Anne-Marie was Chair of the Forum des secrétaires généraux du Québec, as well as a Board member with the Fondation du Barreau and the Advisory Committee of the Commissaire au lobbyisme du Québec.

Anne-Marie retired from the AMF, and has served as Corporate Secretary of Viaction Insurance since May 2020.  In August 2021, she was appointed Director of the Organisme d’autoréglementation du courtage immobilier du Québec, (Québec real estate broker regulator).

Alister Campbell

Alister Campbell

President and CEO, PACICC

Alister Campbell was named as CEO of the Property and Casualty Insurance Compensation Corporation (PACICC) in February of 2019.  He is a 30-year insurance industry veteran and over the last decade has served as CEO of two leading Canadian insurers (Zurich Canada and The Guarantee Company of North America) where he built a long track record of successfully driving company profitability and executing on customer-focused plans for growth and market/segment leadership.  Over the course of his career, he has held senior executive positions in a range of capacities within the property-casualty, life and travel insurance industries including general management, marketing, brokerage distribution strategy, financial services, investor relations and digital commerce.

Alister has previously served the Canadian P&C industry as Chair of the Board of Directors of PACICC, and as Deputy Chair of the Board of the Insurance Bureau of Canada (IBC).  He is the 2020 Chair of the International Forum of Insurance Guarantee Schemes and is a member of the Board of Directors of the Global Risk Institute in Financial Services.  Alister also serves on the Boards of several private companies including FinTech start-up FINAEO.  He holds a BA (Hons.) from the University of Toronto, a M.Sc. from the London School of Economics and an MBA from the Wharton School at the University of Pennsylvania.

Christian Fournier

Christian Fournier

Executive Vice-President and Leader, Property and Casualty Insurance, Beneva

Christian Fournier is Executive Vice-President and Leader, Property and Casualty Insurance at La Capitale/SSQ Insurance. With more than 25 years of experience in the insurance industry, he was formerly Senior Executive Vice-president and Chief Operating Officer at La Capitale General Insurance, until the foundation of the largest mutual insurance company in Canada.

A Laval University graduate and a Fellow of the Canadian Institute of Actuaries and the Casualty Actuarial Society, he has held a number of strategic positions in the property and casualty insurance industry in Quebec and other parts of Canada. The solid business savvy Christian has built over many years of experience, together with his innovative flair, strategic mindset and enabling leadership style, are certainly vectors of success for La Capitale/SSQ Insurance.

He assumed his new position in July 2020.

Lisa Guglietti

Lisa Guglietti

Executive Vice-President and Chief Operating Officer, Property & Casualty Manufacturing, Co-operators Group Limited

As Executive Vice-President, Chief Operating Officer, Property & Casualty Manufacturing, Lisa Guglietti oversees all P&C manufacturing functions for Co-operators General Insurance Company and CUMIS General Insurance Company, and is accountable for their underwriting performance.

Lisa recently celebrated her 25th anniversary with The Co-operators. Prior to her current appointment as EVP, Chief Operating Officer, P&C Manufacturing, Lisa was the Appointed Actuary for all of the P&C companies and had accountability for placement of the Corporate Reinsurance program.  She is a Fellow of both the Canadian Institute of Actuaries and the Casualty Actuarial Society, and holds a Mathematics degree from the University of Waterloo.

Timothy Hodgson

Timothy Hodgson

Consultant, Chair of Hydro One and Former CEO of Goldman Sachs Canada

Timothy Hodgson is a corporate director and currently serves as Chair of Hydro One. He also serves on the boards of Dialogue Health Technologies and the Public Sector Pension Investment Board (PSP Investments). Timothy was formerly Managing Partner of Alignvest Management Corporation from 2012 until his retirement in August 2019. He was Special Advisor to Mark Carney, Governor of the Bank of Canada from 2010 to 2012. From 1990 to 2010, Timothy held various positions in New York, London, Silicon Valley and Toronto with Goldman Sachs and served as Chief Executive Officer of Goldman Sachs Canada from 2005 to 2010, with overall responsibilities for the firm’s operations, client relationships and regulatory matters.

Timothy’s prior directorships include Sagicor Financial Corporation, Sagicor Group Jamaica, MEG Energy, Alignvest Acquisition Corporation, Alignvest Acquisition II Corporation, The Global Risk Institute, KGS-Alpha Capital Markets, Next Canada, the Ivey School of Business and Bridgepoint Health. He holds a Masters of Business Administration from The Ivey School of Business at Western University and a Bachelor of Commerce from the University of Manitoba. He is a Fellow of the Institute of Chartered Professional Accountants (FCPA) and holds his ICD.D.

Penny Lee

Penny Lee

Consultant

Penny Lee is an independent consultant. Prior to becoming an independent consultant, Penny enjoyed a long career as a financial services regulator with the Office of the Superintendent of Financial Institutions (OSFI) before retiring in 2020. Her last full-time position was Senior Director at OSFI, where she was the Head of Supervision, responsible for the Property & Casualty Insurance sector.

Previous roles at OSFI included Managing Director, Financial Institutions Group – Insurance and Director, Life Conglomerate Group. Penny also represented OSFI at the Canadian Council of Insurance Regulators (CCIR) and with other industry (regulatory) groups.

Penny has over 30 years of executive leadership experience in the financial services industry, in both the private and public sector. Her deep public sector experience gained at OSFI is complemented by years of progressive leadership roles in the life insurance industry. Her breadth of experience encompasses risk management, corporate governance, finance, accounting, internal audit, general administration, marketing & sales etc.

Penny holds an Accredited Accounting Professional Designation (CPA, CGA) and Certificate, Fellow in Board Governance (FBG) from the Canadian Board Diversity Council.

She serves on the board of the Property & Casualty Insurance Compensation Corporation (PACICC) and not-for-profits.

David MacNaughton

David MacNaughton

President, Palantir Canada

David MacNaughton became Canadian President of Palantir Technologies, a data analytics and software firm based in Palo Alto, in September 2019.  Prior to this appointment, he was Canada’s Ambassador to the United States for three and a half years. In his capacity as Ambassador, David was a key member of the Canadian team that renegotiated the North American Free Trade Agreement. He travelled extensively in the United States and Canada, building support for Canada’s position in the negotiations and seeking input from Canadian Premiers and business and labour leaders across Canada.

David has had a long and successful career as an entrepreneur in the private sector in Canada, having built an international consulting company. He has also served at a senior level in both federal and provincial governments, and spent several years as an advisor to one of Canada’s leading investment banks. He has served on Boards of both private companies and not-for-profit organizations over the years.

Heather Masterson

Heather Masterson

President and CEO, Travelers Insurance Company of Canada

Heather Masterson is President and Chief Executive Officer of Travelers Canada, and a member of the company’s Board of Directors.  She joined Travelers Canada in 2015 as its Chief Operating Officer, bringing more than 20 years of industry experience, market and broker expertise, and executive leadership to her role.  Since becoming President and Chief Executive Officer in 2016, Heather has been focused on driving financial and operational excellence across the business, improving the customer and broker experience, building capability in technology and innovation, and creating a best-in-class employee experience.

Prior to Travelers Canada, Heather was President and Chief Executive Officer of the Totten Insurance Group, Chief Marketing Officer and Executive Vice President of Risk Management and International Client Services at Hub International, and Vice President of AIG Worldsource.

Heather has received notable industry recognition for her leadership track record. She was an honouree of the 2013 Business Insurance Women to Watch Award, a recipient of the Hub International Chairman’s Award in 2014, and winner of the 2018 Insurance Business Canada’s Woman of Distinction Award.

Heather serves on the boards of a number of industry associations and not-for-profit organizations, including: Insurance Bureau of Canada, General Insurance Statistical Agency, and PACICC. She recently joined the Insurance Institute of Canada’s National Board of Directors and is Past President of the Insurance Institute of Ontario.  Heather has a Bachelor of Education degree from Memorial University of Newfoundland, a Bachelor of Arts degree from Dalhousie University, and is a Fellow Chartered Insurance Professional (FCIP) of the Insurance Institute of Canada.

Lynn Oldfield

Lynn Oldfield

President and CEO, AIG Insurance Company of Canada

Lynn Oldfield is President and Chief Executive Officer of AIG Canada. She joined AIG in 1991 as a Professional Liability Underwriting Manager and since then has held a variety of management positions encompassing underwriting, client and broker relationship management as well as sales and marketing before assuming the role of President in 2008.

Lynn holds a Master of Business Administration from McMaster University and an Honours Bachelor of Business Administration degree from the Lazaridis School of Business and Economics at Wilfrid Laurier University. She has earned both her Fellow Chartered Insurance Professional (FCIP) and Canadian Risk Management (CRM) designations. She is the recipient of a number of awards including, Wilfrid Laurier University’s J. Alex Murray Alumni Award and the Fellow of Distinction Award from the Insurance Institute of Canada. Most recently, Lynn was named CEO of the Year by Insurance Business Canada and received the KPMG Award for CEO Human Resource Champion.

Lynn holds Board positions with AIG Insurance Company of Canada, PACICC, the Global Risk Institute, the Global Commercial Insurers Association and Laurier University’s Risk and Audit Committee.

Dave Oakden

Dave Oakden

Consultant

David Oakden is a retired insurance and actuarial professional in Toronto. He is currently serving on the Boards of PACICC and the Financial Services Commission of the Turks and Caicos Islands. His last full-time position was at the Office of the Superintendent of Financial Institutions (OSFI), where he served as Managing Director in the Actuarial Division. In 2012, his role was expanded to include mortgage insurance, including the supervision of the Canada Mortgage and Housing Corporation. From 2007 until January 2012, David was the primary OSFI representative at the International Association of Insurance Supervisors, serving as a member of the Executive Committee and Vice-Chair of the Technical and Budget Committees. During that period, he was involved in international discussions of the regulatory response to the global financial crisis.

David Oakden is a Fellow of the Canadian Institute of Actuaries and a Fellow of the Casualty Actuarial Society. He has a Ph.D. in mathematics from the University of Toronto. Prior to joining OSFI, he had over 30 years of industry experience, split between consulting and insurance company management. His insurance company experience included senior executive roles and, for over 17 years, he managed the Canadian P&C Actuarial Consulting practice for Towers Perrin. Dave has been active in the actuarial profession and has served as: President of the Canadian Institute of Actuaries, member of the Board of the Casualty Actuarial Society and member of the (Canadian) Actuarial Standards Board. He has spoken frequently at industry meetings on reserving, financial reporting, capital management and risk management.

Jason Storah

Jason Storah

Chief Executive Officer, Aviva Canada Inc.

Jason Storah was appointed as Chief Executive Officer of Aviva Canada Inc. in July 2019. He previously served in the role of Chief Distribution Officer for Aviva Canada. In that role, he was responsible for all of Aviva’s distribution channels across Canada, including the broker channel as well as oversight of RBC Insurance.

Prior to that role, Jason was Executive Vice President, Broker Distribution. Since joining Aviva Canada in 2004, he has worked across a number of lines of business and held the roles of Chief Risk Officer, Senior Vice President, Traders and National Brokers, and Senior Vice President, Strategic Development. Previously, he worked at RSA in North America, South America and Europe.

Jason holds a Bachelor of Arts degree in Economics from Newcastle University UK and speaks fluent Spanish. He also serves as a member of the Insurance Bureau of Canada (IBC) Board.

Mark Tullis

Mark Tullis

Vice Chair, Intact Financial Corporation

Mark Tullis is Vice Chair, Intact Financial Corporation. Mark assists the CEO with M&A strategy and talent management, and is a member of a number of management committees, including IFC’s Risk Committee and Operational Investment Committee. He is Chairman of Intact Investment Management, and helps with Board communication. Previously, Mark was IFC’s Executive Vice President, Governance and Capital Management.

Prior to joining IFC in January 2006, Mark was President of Institutional Businesses of ING Americas. He was Executive Vice-President and Chief Actuary with Primerica, a subsidiary of Citigroup, from 1994 to 1999.

Mark holds a Bachelor of Mathematical Sciences degree and brings many years of experience in senior positions within the insurance industry. He served as a director of the Company’s federal P&C insurance subsidiaries from 2000 to the beginning of 2006.

Silvy Wright

Silvy Wright

Chief Executive Officer, Northbridge Financial Corporation

Silvy Wright has served as President and Chief Executive Officer of Northbridge Financial Corporation since May 15, 2011. Prior to this role, she served as Chief Executive Officer of Markel Insurance.

Under Silvy’s leadership, four separate insurance companies were successfully brought together under one strong Northbridge operating group. Today, Northbridge Financial is the third-largest commercial property and casualty insurance group in Canada. Northbridge’s three brands leverage combined talent and capabilities, and successfully operate through distinct distribution channels.

Silvy is a Director on the Board of the Insurance Bureau of Canada and served as Chair in 2019 and 2020. She is passionate about promoting the importance of education. She has served as a National Campaign Cabinet member for Pathways to Education since 2016, in an effort to help vulnerable youth to graduate.

Silvy has also raised the profile of insurance education as Chair of the Board for the Insurance Institute  of Canada, and was recognized with an honorary CIP designation. She is a Chartered Professional Accountant and holds an Honours Bachelor of Arts degree in Economics and Commerce from University of Toronto.

Staff Members

Alister Campbell

Alister Campbell

President and Chief Executive Officer

Mario Fiorino

Consultant

Grant Kelly

Grant Kelly

Chief Economist, Chief Economist and Vice President, Financial Analysis & Regulatory Affairs

Ian Campbell

Ian Campbell

Vice President, Operations

Denika Hall

Denika Hall

Manager, Operations

Zhe (Judy) Peng

Zhe (Judy) Peng

Research Associate