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April 12, 2022

Toronto, April 12, 2022 – The Insurance Brokers Association of Canada (IBAC) is pleased to announce that Economical Insurance has maintained its support of the Broker Identity Program (BIP) at the Full Partner level.

The sponsorship from Economical will support IBAC’s Broker Identity Program (BIP), a national advertising campaign that raises awareness of the significant value that insurance brokers provide for their clients – choice, advice and advocacy.

In addition, their investment will contribute to important IBAC initiatives including IBAC’s technology leadership, professional development of the broker workforce, and our strong and effective federal advocacy to maintain the separation of banking and insurance, which protects consumers and promotes a fair and competitive marketplace.

“Our network of skilled brokers is the reason Economical is able to serve more than a million customers from coast to coast,” said Tom Reikman, Senior Vice President and Chief Distribution Officer, Economical Insurance. “We know that customers rely on the experience and expertise of brokers to find the product that is right for them. Broker relationships, built on advocacy and trust, are a key aspect of our business. The Broker Identity Program ensures that customers continue to access these vital services.”

“We greatly appreciate Economical’s long-standing support and partnership,” said Peter Braid, IBAC’s Chief Executive Officer. “Their renewed investment demonstrates their confidence in the broker distribution system and their commitment to insurance consumers.”

About Economical Insurance

Definity Insurance Company, through its brand Economical Insurance, is a leading property and casualty insurer offering coverage for homes, vehicles, and businesses through licensed broker partners. Economical Insurance issued its first policy in 1871 and has a long history of being there for Canadians in times of need.

About IBAC:

Founded in 1921, the Insurance Brokers Association of Canada is the national voice of over 38,000 property and casualty insurance brokers, advocating for the interests of both insurance brokers and consumers to the Government of Canada. The Broker Identity Program (BIP) was launched in 1988 to promote the value and professionalism of the insurance broker to consumers, insurers and governments.

For further information, please contact:

Denys Bégin, Manager, Marketing & Communications

Insurance Brokers Association of Canada

416-367-1831 ext. 160 or [email protected]

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