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May 30, 2023

Toronto, May 30, 2023 – 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.

“Economical is built upon strong relationships with our valued broker partners, who enable us to serve more than a million customers from coast to coast,” said Tom Reikman, Senior Vice President and Chief Distribution Officer, Economical Insurance. “The Broker Identity Program ensures that customers can continue to access the vital expertise and experience of trusted brokers. At Economical, we know that the key to success is working together, and we are proud to stand alongside our broker partners as we build a stronger, more resilient future.”

“Economical’s longstanding partnership with IBAC recognizes the important role that brokers play within the insurance marketplace, and our shared commitment to ensuring that consumers have the advice and support they need throughout the entire insurance experience. We greatly appreciate their renewed investment in our programs and initiatives, and look forward to our continued collaboration.” said Peter Braid, IBAC’s Chief Executive Officer.

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 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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