​Corporate governance

Foresters is governed by its members through their representative bodies, and ultimately the Board of Directors. Governance occurs through the Constitution, the Code of Ethics, the CEO and the Executive Leadership Team, under the auspices of its primary regulator, the Office of the Superintendent of Financial Institutions (“OSFI”). Together, we work to enrich the lives of our members, their families and the communities in which they live.

 

Foresters is a fraternal benefit society. This means we don’t have shareholders. Instead, our members elect their own leaders, who elect the members of the International Assembly. The International Assembly is Foresters ultimate governing body; it elects the International Fraternal President and the members of the Board of Directors. Learn more about our members, Branches, Regional Councils and the International Assembly.

 

The Board of Directors oversees Foresters and is responsible for ensuring that programs are in place so that Foresters is in compliance with the laws and regulations in all jurisdictions where it does business. The Board elects its own Chairman/woman, who is responsible for managing the Board and for ensuring that it performs its responsibilities effectively and efficiently. Learn more about our Board of Directors.

 

The Board of Directors appoints the President and Chief Executive Officer, who is also a member of the Board. Under the Board’s direction, the President and Chief Executive Officer is responsible for the short-term and long-term performance of Foresters by ensuring that sound plans are developed, that planned results are realized, and that business and Fraternal affairs are managed consistently within established corporate policies.

 

Learn more about our President and Chief Executive Officer.

Learn more about our leadership team.

 

Our Constitution is a legal document that defines the rights and responsibilities of our members, their officers and the representative bodies such as the Branches, Regional Assemblies and International Assembly.

Learn more about our Constitution.

 

Our Code of Ethics sets out the standards to which we hold our employees, contractors, officers and Board of Directors. Our Code also applies to our subsidiaries.

 

Learn more about our Code of Ethics.

 

As a Canadian Financial Institution, Foresters is regulated by the federal Canadian regulator Office of the Superintendent of Financial Institutions (OSFI) through statute (the Insurance Companies Act of Canada) and through OSFI Guidelines, including their January 2003 Corporate Governance Guideline.