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David Dykes, FCIP
Vice-Chairman and Chief Risk Officer



David Dykes has been appointed Western Surety’s first Chief Risk Officer. The former CEO brings nearly 40 years of surety industry experience to the new post.

David says that creating this dedicated senior management position reflects the insurance and surety industries’ greater awareness of risk following 2008’s global financial problems.

“The industry has always been relatively good at assessing and mitigating the inherent risks of surety bonds,” says David. “For example, Western Surety has had a strong focus on risk management for many years.

“What 2008 showed boards and regulators was that we need to up our game in two major areas: first in terms of identifying low probability (but high severity) risks, and secondly to create effective strategies in the unlikely event of multiple serious risks occurring simultaneously.

The good news for clients

David says Western Surety’s commitment will mean an even higher level of consistency, stability and sound management that brokers can count on when they work with Western Surety.

“We want our underwriters to always be able to provide a high standard of service and timely turnaround, says David, even as we upgrade our risk management and ensure excellent corporate stability.”

RESP Awards: Helping Build Futures for Brokers' Children

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Again this year, Western Surety will donate $1,000 to each of five Registered Education Savings Plans (RESPs) for children of brokers.
  • 5 awards – each will be $1,000 to be deposited directly to an RESP.
  • 1 RESP per family; a family can apply for more than one child, but if an award is granted the $1,000 will be shared among the RESPs in the family.
  • Head of household must be a surety division employee of a Western Surety Company contracted broker.
  • Children for whom the RESP applies must be under 18 years of age.
  • 1 award in Atlantic Canada; 1 in Ontario; 2 in Western Canada and 1 from the country at large.
  • Applications:
    • Must be received by June 30, 2011.
    • Send applications by email to ksluth@westernsurety.ca.
    • Include child’s and parents’ names, and the brokerage name.

"Western Surety is proud to be ‘Helping Build Canada’ by investing in the futures of the next generation of Canadians," says President and CEO Scott Donald.

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