Canada's Assuris a founding member
TORONTO, May 15, 2013 /CNW/ - The International Forum of Insurance
Guarantee Schemes (IFIGS) was officially launched today. IFIGS was
established by leading insurance guarantee schemes from around the
world interested in sharing their experiences in providing protection
to policyholders in the event their insurance company fails.
IFIGS will facilitate and promote international cooperation between
insurance guarantee schemes and other stakeholders with an interest in
"The launch of IFIGS will further strengthen relationships between
insurance guarantee schemes around the world," said Gordon Dunning,
President & CEO of Assuris, an IFIGS member that protects Canadian life
insurance policyholders against loss of benefits due to the financial
failure of their insurance company. "It will be a very valuable
platform for exchanging ideas and discussing common issues."
Current IFIGS members include insurance guarantee schemes and other
stakeholders from Australia, Canada, Chinese Taipei, France, Germany,
Greece, Korea, Malaysia, Norway, Poland, Romania, Singapore, Spain,
United Kingdom and the United States of America. Organizations from
other countries that have an established insurance guarantee scheme or
are contemplating one may join IFIGS.
Following an initial meeting of interested international parties in
Toronto, Canada, in November 2011, IFIGS has held regional meetings in
Germany, Malaysia and Greece. The 2nd International Forum of Insurance Guarantee Schemes will be held October
21-22, 2013, in Chinese Taipei, where the group will create a formal
Committee to direct its activities.
An insurance guarantee scheme is a body mandated to provide
policyholders with last-resort protection against loss of part or all
of their insurance benefits when an insurer is unable, or likely to
become unable, to fulfil its insurance contract commitments. In such
cases, an insurance guarantee scheme provides protection by paying
compensation or by securing the continuity of the insurance contracts.
For further information on IFIGS and its membership application
procedures, please visit www.ifigs.org or email firstname.lastname@example.org.
Founded in 1990, Assuris is a not for profit corporation funded by the
Canadian life insurance industry. Since its inception, Assuris has
protected almost three million Canadians through four member company
failures. For more information, please visit www.assuris.ca.
For further information:
Josée Rheault, Vice President, External Relations, Assuris
Tel.: 416-359-2969; Mobile: 416-829-8079; Email: email@example.com