Executive Vice President, General Counsel & Corporate Secretary, United Therapeutics
Search every verified Paul Mahon interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. At a 2009 Advocis Symposium, Paul Mahon discussed the Canadian insurance industry's approach to regulation and professional development. He argued that the industry should collectively decide whether to create its own rules or wait for regulators to impose them, describing this as a "clear challenge." Mahon emphasized the need for Canadian principles-based guidelines to remain aligned with other jurisdictions, including the UK, Australia, and the US, noting that Canadian regulators would look to those regions. Mahon also addressed training and development, stating that university education is a starting point but that significant growth in salesmanship requires mentoring and succession strategies. He expressed support for programs like the Seneca College model and suggested that nationalizing such education could help MGAs, brokers, and insurance companies develop new talent. Mahon questioned whether the industry should move to a salaried base model, calling it an "interesting" possibility, while stressing the importance of effective implementation and commitment to client-focused practices.
“The CCIRR's focus on needs-based planning and selling is to promote quality of advice and product suitability, which sounds a lot like the UK FSA's rules. This guideline approach can only work if all stakeholders work together to implement these policies and practices that are essentially rules for our industry.”
“We as a group have to decide whether we want to have the industry create those rules collectively or whether we want to wait for a regulator to put those rules into play. I think that is the clear challenge for us as an industry.”
“Our Canadian principles-based guidelines must remain aligned with other jurisdictions. It's very important to look overseas—to Australia, to the US—and see what's going on. Our regulators will be looking to those jurisdictions, so we as a body working together better be looking at those jurisdictions.”
“The key is effective implementation and commitment to practices and processes that focus on the client's best interest. To achieve this, we must remain committed to advisor development and support to ensure that financial security advice is steeped in professionalism.”
The Great-West Life Assurance Company / London Life Insurance Company / The Canada Life Assurance Company Paul, who is ...
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