February 24th, 2021

MIABC Presents

Ten&Ten

with 

Series Sponsored by

Topic

The Impact of a Hard Market on Strata Finances

Commercial and residential strata finances have been decimated by Insurance premium and deductible increases to the point some are non-compliant with the Strata Property Act, potentially damaging market value or viability of the complex.  Have your opportunity to understand what happened, and ask questions of the BCFSA about the future, in a small group.

Speaker

Frank Chong

Vice President and Deputy Superintendent of Financial Institutions, Regulation

BC Financial Services Authority

Frank Chong is the Vice President and Deputy Superintendent of Financial Institutions, Regulation, BCFSA. BC Financial Service Authority is an agency of the B.C. Ministry of Finance is responsible for solvency and market conduct regulation of provincially regulated financial institutions (credit unions, P&C and life insurers, captives, and trust companies). Other regulatory areas include pensions, mortgage brokers and credit union deposit insurance.

Frank is currently chair of the Canadian Council of Insurance Regulators (CCIR). He has also participated in a number of industry working groups. He is currently a project team member providing advice on the current Financial Institutions Act & Credit Union Incorporation Act reviews.

Frank has held various roles within FICOM, including Executive Director, Director, and Senior Analyst. Prior to FICOM, Frank held finance and management roles at a B.C credit union, chartered bank and an insurance brokerage firm. In total, Frank has more than 18 years of experience within the financial services sector.