Huston Loke will chair the Canadian Council of Insurance Regulators (CCIR)
The Canadian Council of Insurance Regulators (CCIR) has announced the appointment of a new chair.
Huston Loke, executive vice president at the Financial Services Regulatory Authority of Ontario (FSRA) has almost 30 years’ experience in financial regulation and will take up his new role at the insurance regulators’ council at an important time for the industry.
The CCIR recently published, along with the Canadian Securities Regulators, enhancements to total cost reporting (TCR) disclosure for investment funds and individual segregated fund contracts.
The council also proposed changes aimed at clarifying mutual fund fees and costs for consumers, and shared recommendations with insurers to help homeowners protect their property against climate change.
During Loke’s time at the FSRA (since 2019) the regulator led a recent review of Managing General Agencies that identified potential consumer harm in life insurance sales.
His role at the Ontario regulator focuses on market and business conduct including licensing and conduct regulation for life and health and property and casualty insurers and insurance distribution.
Industry experience
Previous financial services industry experience includes roles with the Ontario Securities Commission, advisor to the CEO of a mortgage insurer and president of a credit rating agency. He also served as a committee member of the Financial Stability Board and Vice Chair of the Mortgage Brokers' Regulatory Council of Canada.
Loke is excited to begin chairing the CCIR.
"Insurance is something Canadians count on for their financial security and peace of mind,” he said. “I'm looking forward to sharing perspectives with our regulator partners to help make a difference for individuals and families across the country."
