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BCFSA Hosts Financial Services Tabletop Crisis Preparedness Exercise
BCFSA Hosts Financial Services Tabletop Crisis Preparedness Exercise
On July 3, BCFSA hosted a tabletop exercise involving key stakeholders from the financial services sector, simulating the impacts of a large-magnitude earthquake in British Columbia on insurance companies’ balance sheets.
The exercise was part of proactive efforts to support crisis preparedness and was organized to help maintain regulators’ confidence that the insurance industry’s governance and decision-making mechanisms in times of crisis are well understood, and to ensure that information and data sharing between the industry and government bodies are working well.