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June 26, 2024

Toronto, June 26, 2024 – 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 thrilled to continue our long-standing support of the Broker Identity Program. As a company with more than 150 years of experience in the marketplace, we know the importance of strong relationships with our valued broker partners.” said Tom Reikman, Senior Vice President and Chief Distribution Officer at Definity. “We know how much our customers value the support of brokers to find the coverage they need and to access their expertise throughout their insurance experience.”

“IBAC’s enduring partnership with Economical reflects our shared history and our strong commitment to providing the best insurance experience for consumers. We greatly appreciate Economical’s renewed investment in our programs and initiatives, and their continued support and confidence in the broker distribution system.” 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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