We provide deep expertise, attentive service and tailored business insurance solutions to help manage exposures and minimize loss across a wide array of industries.
Our wide range of business insurance products and solutions are specialized to meet a variety of insurance and risk management needs for businesses of all sizes.
With an average of more than 20 years of experience, CNA Risk Control professionals drive a program of systematic, sustainable risk control solutions designed to increase productivity and help protect your bottom line.
We provide deep expertise, attentive service and tailored business insurance solutions to help manage exposures and minimize loss across a wide array of industries.
Our wide range of business insurance products and solutions are specialized to meet a variety of insurance and risk management needs for businesses of all sizes.
With an average of more than 20 years of experience, CNA Risk Control professionals drive a program of systematic, sustainable risk control solutions designed to increase productivity and help protect your bottom line.
CNA's Melanie Hoad featured in Canadian Underwriter
In an article published by Canadian Underwriter, CNA's Melanie Hoad discusses regulatory changes affecting foreign entities that operate in Canada.
Foreign entities operating in Canada through a branch will now have to notify the federal regulator of any potential changes to branch management “as well as any circumstances that could negatively impact their suitability,” attendees to a virtual industry event heard recently.
“Whereas the prior guideline focused on the role and accountability of the chief agent, there’s a shift now to branch management, which may include the chief agent along with senior officers located in and outside Canada,” Melanie Hoad, assistant vice president, legal counsel with CNA Insurance, said of the Office of the Superintendent of Financial Institutions (OSFI)’s revised Guideline E-4: Foreign Entities Operating in Canada on a Branch Basis.
The guideline replaces and consolidates prior guidelines E-4A and E-4B that were specific to insurers and banks respectively, Hoad said Nov. 2 during Insurance Bureau of Canada’s 21st annual Regulatory Affairs Symposium. She was speaking as part of a panel looking at numerous current and emerging regulatory and compliance issues.
“As counsel to a branch of a foreign entity, I was eagerly awaiting the revised E-4 guideline,” Hoad said, adding that the deadline for compliance is “fast approaching” in January 2022. The guideline outlines OSFI’s expectations in terms of management and administration of the Canadian business of foreign entities. “There’s an acknowledgement that the home country regulator of the foreign entity is the primary regulator and OSFI’s role is limited to the business in Canada.”
canadacontent/SA-Canada_en/SA-AboutCNA/SA-Newsroom/SA-InTheNews/melanie-hoad-featured-in-canadian-underwriter-nov-2021Melanie Hoad featured in Canadian Underwriter