The terms of reference of the Insurance committee are to propose insurance programs intended for members of the Order, to review them and to monitor the activities related to these programs.
The Insurance committee is a standing committee, and its responsibilities include:
- identifying sectors and various types of insurance programs that seem promising, prioritizing them and making recommendations on new programs or on changes to existing ones;
- hiring actuaries to evaluate our programs and provide their opinion on the reasonableness of the surpluses declared by insurers;
- reviewing the programs on a regular basis to ensure they are up to date and meet the needs of the majority of members;
- annually reviewing the financial and qualitative results and statistics for each program being offered and making recommendations, as appropriate;
- making administrative decisions on necessary changes to premiums, benefits or administration fees and the rebates requested and granted by insurers, and making recommendations on the fair distribution of annual surpluses to insured members, as well as on any other policy issue;
- promoting the various programs sponsored by the Order to members and candidates.
The committee reports to the Board of Directors and has recommendation authority. For administrative purposes, it is attached to the Administration Vice-Presidency.