Assuris has elected two new members to its board of directors, the organization announced today.

Assuris, a not-for-profit organization that protects Canadian life insurance policyholders against loss of benefits due to the financial failure of a member company, also re-elected two members to board at its annual general meeting on May 21.

The two new members are the Honourable James Farley, senior counsel to McCarthy Tétrault LLP and former supervising judge of the Commercial List in Toronto and Greg Traversy, recently retired president of the Canadian Life and Health Insurance Association Inc. (CLHIA).

“Assuris is fortunate to have such qualified directors joining an already very strong board,” said Gordon Dunning, president and CEO of Assuris. “The Board will benefit greatly from Mr. Farley’s expertise in insolvency law and Mr. Traversy’s invaluable industry experience.”

Michael Beck was re-elected to the board. Beck is a former president for Canada, Prudential Assurance Co., former senior vice-president of corporate development and former senior vice-president group insurance at Clarica Life Insurance Co.

Jacques Dumont was also re-elected to the board. Dumont is a consultant and former Inspector General of Financial Institutions of Quebec.

Assuris’ board of directors consists of 10 individuals, all of whom are independent of the member companies. The other six members of the Board are David Baird, Martha Dunlop, Gordon M. Dunning, Hélène Fortin, Fred Gorbet and François Joly.