Insurance Brokers Association of Alberta
Founded in 1921, the Insurance Brokers Association of Alberta (IBAA) is a non-profit voluntary business association that acts as the industry voice for insurance brokerages and brokers in Alberta. Representing the interests of brokerage professionals, the IBAA consults regularly with government and other insurance industry organizations. The Association is a member of the Insurance Brokers Association of Canada (IBAC), an organization that represents the interests of its 11 provincial and regional members.
Member Education and Training
The IBAA has 345 corporate brokerage members, with 582 offices located in 167 communities across Alberta. IBAA members represent 90 percent of the eligible brokerage businesses in Alberta – roughly 4,860 professionals in the industry.
Before brokerages and brokers are able to sell insurance, they must have a license issued under the terms and conditions of the Alberta Insurance Act. Brokers are issued licenses annually; in order to qualify for a license, brokers must provide proof of a minimum of 15 hours of insurance industry-focused education within the past year. To help members comply with provincial licensing regulations, the IBAA provides members with educational programs that help professionals maintain up-to-date industry and consumer-related information.
Association Ethics and Standards
The IBAA works alongside the IBAC and regional governmental bodies to ensure that industry professionals continue to pursue professional development opportunities – a factor that helps to maintain high standards of professionalism, ethical practice, and consumer well-being. In addition, the IBAA also ensures its members provide consumers with the best possible service through its Best Practices Program.
