Insurance Brokers Association of Canada

The Insurance Brokers Association of Canada (IBAC) is the national trade organization that unites and represents the 11 regional and provincial associations of Property and Casualty (P&C) insurance brokers in Canada. Representing nearly 32,000 insurance brokers across Canada, the IBAC is a not-for-profit organization and is not an insurance company, a seller of insurance products nor a representative of insurance companies.

The IBAC works to elevate the status of insurance brokers through professional development and by improving standards of qualification and ethical practice. In addition, the IBAC has been integral in creating professional standards and has developed several courses for the broking qualification. Although qualifications vary according to province, all brokers are subject to government regulation as well as a strict code of ethics, principles, and practices.

Though brokers who sell insurance are provincially licensed and regulated, the IBAC has been vital in enhancing the standards of insurance licensing and practice by maintaining licensing courses and education programs for brokers. In addition, the IBAC conducts on-going dialogue throughout the industry to keep brokers abreast of important industry developments in order to enhance the services provided by brokers and to preserve the integrity of licensed insurance brokers.

The mission of the IBAC is to promote the superior benefits of dealing with a professional property and casualty insurance brokers.

So what’s the broker advantage? Qualified brokers identify risks and shop the market for the best policies from insurance companies in order to get consumers the best protection at the best rates. Qualified professionals such as home insurance brokers can also serve as advocate for the consumer and provide claim assistance. Whether consumers are concerned about premiums or types of liability coverage, professionally designated insurance brokers that display the broker symbol are qualified to provide the broadest range of options that suit consumer needs and budgets as well as to act as advocate for consumers who are dealing with insurance companies.