IBC member companies make up nearly 90% of the property and casualty (P&C) insurance market in Canada
Toronto, ON (Jan. 24, 2022) – Insurance Bureau of Canada (IBC) is proud to announce that AIG Insurance Company of Canada (AIG) has joined its membership, which represents the vast majority of P&C insurers in Canada. AIG brings a global perspective and strong understanding of the commercial insurance market that will strengthen and build on IBC’s work.
“We’re proud to work with AIG and welcome them to IBC,” said Don Forgeron, President and CEO, IBC. “Our approach leverages the collective expertise of our members and enables them to speak with a unified voice about the issues that matter most to our industry. By joining our association, AIG is strengthening our efforts to help shape public policy and better protect Canadians from risk.”
AIG Canada has provided insurance solutions for over 50 years and is federally licensed to operate in all provinces and territories in Canada. AIG Canada is one of the country’s leading P&C insurance companies, providing a wide range of business and consumer products to the marketplace through a network of independent brokers.
“AIG prides itself in its commitment to helping Canadians prepare for what’s next and better manage risk,” said Lynn Oldfield, President and CEO, AIG Insurance Company of Canada. “These values align with IBC and its vision and mandate. We’ve been supportive of a number of IBC’s initiatives over the years and are pleased to join its strong industry association.”
Canada’s P&C insurers who want a fair and competitive insurance market look to IBC to influence positive change. IBC leads the process with a team of GR and policy experts who have the political acuity and data-driven insights to plot the best advocacy path.
Membership in IBC is available to private Canadian P&C insurers and reinsurers. IBC works on behalf of its members to:
- Create competitive and sustainable auto insurance markets
- Work with the insurance industry and governments to help shape decisions around and protect the public from natural catastrophes
- Advance balanced financial, operational, and market conduct regulation
- Improve road safety and awareness
- Increase consumer understanding of P&C insurance and related issues.
To learn more about how your organization can take advantage of IBC’s value and membership, contact us at [email protected] or 416-362-2031, or 1-800-761-6703, ext. 1008.
AIG (NYSE: AIG) is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
For more information, visit www.ibc.ca. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.
Source: Insurance Bureau of Canada (IBC)Tags: AIG, Insurance Bureau of Canada (IBC)