HOCKEY CANADA
Hockey Canada Funding Sources and Use
Finance
Hockey Canada has five components to its financial statement fund structure: the Operating Fund, the Insurance Fund, the Uninsured Risk Fund, the International Event Hosting Support Fund, and the Strategic Plan Fund. Each Fund is governed by policies approved by the Hockey Canada Board of Directors.
The following summarizes the use of these funds:
Operating
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- Grassroots programming
- National events
- National teams
- Sport safety
- Sponsorship
- Licensing
- Government funding (including Sport Canada and Own the Podium)
- Hockey Canada Foundation grants
- Funding agency donations
- Broadcast rights
- Member assessment fees and investment income
Insurance
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- Insurance fees and premiums
- Paid by Members and investment income
Uninsured Risk Fund
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- Uninsured claims not covered by an active insurance policy
- Fund balance set by Management and approved by the Board
- Any changes to the fund balance recommended by Management and approved by the Board
- Any settlements of uninsured claims are subject to review by the Risk Management Committee with a recommendation for settlement sent to the Board for approval
International Event Hosting Support Fund
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- International events including the IIHF World Junior Championship, IIHF Women’s World Championship, World Para Hockey Championship, Hlinka Gretzky Cup, and investment income
Strategic Plan Fund
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Supporting Member organizations for initiatives that are national in scope
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Funding current and future technologies
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Initiatives to support increasing the membership base across the country
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Net proceeds from strategic, long-term initiatives and investment income
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Financial statements for the year ended June 30, 2024, will be posted on HockeyCanada.ca later in 2024 following the annual audit. This practice began in December 2022 when Hockey Canada, for the first time in its history, posted its year-end financials in an effort to increase transparency.
Insurance & Risk Management
Hockey Canada places great importance on mitigating risk to create healthy and safe environments for our Registered Participants. Effective risk management requires all participants in sanctioned programming to play specific roles to reduce or prevent accidents or injuries before they occur.
Insurance is an important part of our risk management framework and is procured based on what is practical, possible, and cost-effective. Hockey Canada has engaged insurance carriers who understand the needs of our organization for policy coverage in the areas of commercial general liability, directors and officers’ liability, and accidental death and dismemberment coverage.
1
Commercial General Liability Insurance
($11.58 per participant)
The Hockey Canada Commercial General Liability Insurance coverage is designed to respond on behalf of any Registered Participant for their on-ice and off-ice activities while participating in Hockey Canada or Member-sanctioned activities. The policy is a personal injury and property damage policy.
2
Directors & Officers Liability Insurance
($5.44 per participant)
This policy covers the directors and officers of all minor hockey associations, junior teams, Members, and Major Junior teams and leagues for their exposure to legal action arising from alleged wrongful acts committed while on the board of directors of these organizations.
3
Accidental Death & Dismemberment Insurance
($4.62 per participant)
The Hockey Canada Accidental Death & Dismemberment Insurance provides coverage to its limits for very serious, permanent injuries that might occur while participating in a Hockey Canada or Member-sanctioned activity. This coverage is in addition to any other valid and collectable insurance policy.
Separate from the above-referenced insurance policies, Hockey Canada provides Major Medical/Dental secondary compensation at a rate of $2.15 per Registered Participant. This secondary compensation has specified limits and provides additional medical and dental compensation to Registered Participants after they have exhausted the limits of their private insurance.
In addition to insurance, our risk management strategy includes working with our Members to emphasize the safety of the athlete, clarity of rules and policies, and respect in the game. By continuing our efforts in these areas, the game will be safer for all Registered Participants.
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