Equite Association

Who is Insurance Bureau of Canada (IBC)?

IBC is the national industry association representing the vast majority of Canada’s property and casualty (P&C) insurers. IBC’s members insure Canadians’ homes, cars, and businesses.
As a trade association, IBC primarily serves its members- insurers of the Canadian P&C insurance industry; however, insurance consumers are also a primary focus – drivers, homeowners, business owners and the public at large. IBC also maintains strong relationships across all three levels of government and sits on various public sector committees, task forces, and working groups.

How does IBC contribute to the fight against fraud?

IBC is well-positioned to advocate for reforms (e.g. legislation, regulations, by-laws) that assist government to understand and develop policies to facilitate a healthy insurance market, which is vital for the economy and consumers. For instance, IBC advocated for and is consulting with government to develop an anti-fraud and abuse strategy in Ontario.
IBC provides significant value to insurers through its IM services, including policy development, government relations and consumer communications.
IBC will continue to advocate for changes to the federal privacy law to clearly permit the collection and use of personal information for the purpose of preventing, suppressing and detecting fraud. Further, IBC will continue to advocate for similar changes to provincial privacy laws.
As a trade association, IBC primarily serves its members - insurers of the Canadian P&C insurance industry; however, insurance consumers are also a primary focus – drivers, homeowners, business owners and the public at large. IBC also maintains strong relationships across all three levels of government and sits on various public sector committees, task forces, and working groups.

Spotlight: Success Story of 2021

IBC’s advocacy has helped shape the country’s first provincial towing statute, the Towing and Storage Safety and Enforcement Act (TSSEA). Industry views were reflected in the first tranche of regulations, including a robust criminal background check for drivers/owners(including directors/officers), and confirmation that licence suspensions/revocations cannot be stayed pending appeal, both of which serve to enhance consumer protection. Efforts continue to ensure more industry-supported reforms are included upon TSSEA’s implementation on January 1, 2024. IBC has also been holding regular dialogue with the government on reforming the Repair and Storage Liens Act and other towing and storage matters, including the TowZone Pilot, which was recently extended by one year. The pilot has reduced storage times and costs on Ontario’s busiest stretches of highway.”