Position Title: Board Director
Location: Toronto, Ontario
Lawyers’ Professional Indemnity Company (LAWPRO®) is a wholly Canadian owned insurance company that provides professional liability insurance to lawyers in Ontario and TitlePLUS® title insurance coast-to-coast. LAWPRO is headquartered in Toronto, Ontario, Canada.
LAWPRO provides errors and omissions insurance to more than 30,000 members of the Law Society of Ontario. Through its TitlePLUS Program (being the only all-Canadian, bar-related title insurance product), LAWPRO also provides comprehensive title insurance and legal services coverage for residential purchase and mortgage-only/refinance transactions handled by lawyers or Quebec notaries.
Incorporated in 1990 by the Law Society of Upper Canada (now the Law Society of Ontario), LAWPRO has operated independently of the Law Society of Ontario since 1995, with its own management and Board of Directors. For more than 20 years, the LAWPRO team has provided the Ontario bar with cost-effective liability insurance, expert claims administration, and proactive risk and practice management initiatives to help prevent claims.
LAWPRO operates in a commercially viable and responsible manner in accordance with the regulations of the Ontario Insurance Act, the Ontario Corporations Act, and other applicable legislation. LAWPRO’s strong underwriting and claims management underlies its financial strength. LAWPRO has consistently been awarded an “A (Excellent)” rating for its financial strength by A.M. Best Co, a leading rating agency.
LAWPRO’s Board comprises 15 Directors. The Board Committee structure consists of the Executive Committee, Governance Committee, Risk Committee, Investment Committee, Audit Committee, Conduct Review Committee. LAWPRO is currently seeking a Board Director.
VISION, MISSION AND VALUES
To be regarded as the preferred insurer in all markets and product lines in which we do business.
To be an innovative provider of insurance products and services that enhance the viability and competitive position of the legal profession.
Individually and as a team, we hold ourselves to the highest professional standards.
- We deliver programs and services known for quality and cost-effectiveness, and for being practical, helpful and relevant.
- We demand the best of ourselves every day and in everything we do.
We foster a climate in which creativity, innovation and change can flourish.
- We share ideas, skills and knowledge and encourage continual learning.
- We value teamwork and collaboration, and the diverse strengths and perspectives of others.
We act with the highest levels of integrity in all of our interactions and decisions.
- We aim to always be consistent, fair, ethical and accountable.
We strive for excellence in customer service.
- We share our knowledge, experience and expertise with our customers and with each other, so that together we can identify, prevent and solve problems.
- We take the time to listen and understand, so we can respond effectively and empathetically to our customers and to each other.
- We demonstrate courtesy and genuine respect for all.
We try to make the world a better place, and to that end lend our energies and expertise to many communities.
THE OPPORTUNITY/PROFESSIONAL QUALIFICATIONS AND EXPERIENCE
KEY EXPERIENCE AND BACKGROUND:
Business and Board experience: A depth and breadth of insurance operations and industry experience at senior levels, including experience with regulatory, governance, stakeholder/government relations and investment issues.
- Functional expertise for the first appointment: A demonstrated experience and expertise in finance, accounting and audit.
- Functional expertise: The ideal candidate will have keen insights into the current and evolving needs of the legal professions and their regulators, the legal services environment, as well as demonstrated experience and expertise in professional liability insurance, ideally legal professional liability, including policy/coverage, underwriting, claims, risk management and reinsurance.
- Experience in fixed income investments, finance, actuarial, audit, IFRS, marketing or HR would be considered an asset.
Every Director has a duty to make an objective and constructive contribution towards the effective direction of the corporation’s affairs. Director’s functions include the following:
- maintaining an objective interest in the agenda and topics placed before the Board;
- ensuring that the Board receives comment, advice or criticism from the corporation’s auditors,
- actuaries or other specialists whose role it is, specifically, to advise the Board;
- making a unique contribution, by way of expertise, judgement or contacts which would not otherwise be available to the Board;
- assisting the Chair in the selection, assessment and remuneration of the Directors and senior management;
- acting in an advisory role for specific projects within the corporation, if the director’s experience is applicable, and to become involved as a member of appropriate board committees, by invitation; and
- questioning information presented to the Board where this is incomplete or departs from the expected and ensuring that the rationale for decision-making is justified.
ESSENTIAL SKILLS AND QUALIFICATIONS:
- mental capacity for long-term thinking and planning, and an ability to analyze a situation fairly quickly;
- financial comfort: The Director will have financial sense, and a working familiarity with corporate financial statements, accounts and reporting systems.
- ability to communicate in a clear and productive manner which moves forward the understanding and resolution of an issue.
- non-conflicting involvements: The important attribute is the ability to allocate sufficient time so as to discharge, responsibly and diligently, the obligations of the appointment.
- compatible philosophy: A Director must have a business philosophy which is in keeping with the operation of a regulated insurance corporation with complex financial and operational goals.
- independence: Independence, both financial and intellectual, is essential so that views can be expressed without constraint.
- honesty and integrity demonstrated through the Director’s actions, including the conduct of the Director’s personal and professional responsibilities. A Director should not have (i) a criminal record or a history of inappropriate conduct involving inter alia dishonesty, misappropriation or fraud, (ii) any irregular or reproachable conduct regarding their own personal financial situation or that of any entity by whom they were previously employed or retained in a leadership role, or (iii) been declared by a relevant regulatory authority to be in breach of compliance or to lack integrity in a comparable role.
Every Director must:
- comply promptly with all requests for information (personal or otherwise) necessary to fulfill management operational needs and corporate regulatory obligations, including consenting to criminal record and credit checks;
- comply with the conflict of interest policy for directors, including (where applicable) removing oneself, and then abstaining, from engagements opposing the interests of LAWPRO or other lawyer professional liability or title insurance programs, whether as counsel or expert witness;
attend orientation training for new directors and such on-going training arranged or approved by the Chair from time to time;
- participate in evaluations or other programs to assess Director qualifications and competencies and/or Board effectiveness, as directed by the Chair.
It is expected that within a reasonable time the Director will have acquired:
- a sound knowledge of the nature and extent of the LAWPRO business and more generally, the insurance industry;
- an awareness of the economic, political and social environment in which the business is conducted;
- an understanding of the availability of financial resources and the level of current and proposed investments; and
- an introduction, through the President & CEO, to senior persons responsible for the corporation’s operational management.
LAWPRO is committed to complying with the Accessibility for Ontarians with Disabilities Act, 2005. Please be advised that accommodation is available in our recruitment processes to all applicants with disabilities, upon request.
Please forward a confidential expression of interest (cover letter and current resume) to: Ed Perkovic, Vice President, Search Delivery ([email protected])
Should you have any questions regarding this opportunity to be part of a dynamic and collegial Board of Directors, please contact:
Ed Perkovic, Vice President, Search Delivery [email protected] 416- 640-4311
Janice Kussner, Partner [email protected] 416- 640-4313
Glenda Goodman, Director, Search Operations [email protected] 416- 640-4308
ABOUT LHH – www.lhh.com
At LHH, we exist to help people, teams and organizations find and prepare for what’s next. Our end-to-end HR solutions future-proof organizations and careers all over the world. Through Advisory, Career Transition & Mobility, Insights, Learning & Development and Recruitment Solutions, we enable transformation, and our job is never done because there’s always another tomorrow to prepare for.
We make a difference to everyone we work with, and we do it with local expertise, backed by global infrastructure and industry-leading technology. LHH’s over 8,000 colleagues and coaches span 66 countries worldwide, working with more than 15,000 organizations, a majority of Fortune Global 500, and nearly 500,000 candidates each year. Together we address needs across the entire talent journey, helping organizations build their capabilities and individuals build brighter futures.
LHH is a part of the Adecco Group, the world’s leading talent advisory and solutions company, headquartered in Zurich Switzerland.