“Canada’s home, car and business insurers are here for Canadians. We know Canadians are navigating a new world with changes occurring rapidly within our communities and beyond. Insurers are committed to working with Canadians during these uncertain times,” said Don Forgeron, President and CEO, Insurance Bureau of Canada (IBC).
Consumers who have questions about their current insurance coverage or are concerned about their ability to continue to pay their premiums due to the impact of COVID-19 should contact their insurance representative to discuss a potential solution. Business insurance products, in particular, are often highly specialized and tailored to a client’s unique needs, so it’s important for business insurance customers to engage their insurance representatives in any discussion about their policy.
CEOs from IBC member companies have expressed their commitment to work with consumers and businesses to ensure their insurance coverage is not disrupted. Individually all insurers are finding ways to help their consumers.
Insurance plays an important role in the overall economy, and insurers remain open for business to assist consumers and continue to pay claims.
Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 128,000 Canadians, pays over $9 billion in taxes and has a total premium base of $59.6 billion.