Insurance Bureau of Canada – Everything you need to know
|Headquarters||777 Bay St Suite 2400 Toronto, Ontario, M5G 2C8, Canada|
|Size (number of employees)||Around 400|
|Office locations||Ontario, Montréal, Vancouver, Edmonton, Halifax|
|Key people||Celyeste Power (president & CEO), Craig Stewart (vice-president, climate change and federal issues), Amanda Dean (interim vice-president, Ontario), Johanne Lemanque (vice-president, Québec), Aaron Sutherland (vice-president, Pacific and Western), Graham Little (interim vice-president, Atlantic)|
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is a national industry association that represents private home, auto, and business insurers. Its member companies make up 90% of the Canadian property and casualty insurance marketplace.
A significant part of IBC’s work is its focus on increasing the public’s understanding of insurance, which is fostered through IBC’s five regional consumer centres that answer thousands of inquiries from consumers every year, in addition to a variety of other channels promoting education among the public, as well as the insurance industry more broadly. These range from online resources about different types of coverages to various conferences and events, studies on the risks and costs of natural catastrophes, reports on insurance reform, and other advocacy and education work involving key stakeholders.
IBC member companies, which consist of both private insurers and reinsurers, can subscribe to three IBC services, including Issues Management (policy development, communications and legal services, and services delivered by regional offices), Investigative Services (such as crime ring investigation, auto theft and loss recovery services, information exchange, as well as communications and legal services as they relate to Investigative Services), and Vehicle Information Suite (access to web-based business applications, the Canadian Loss Experience Automobile Rating system, VINlink products, “How Cars Measure Up” publication, and other information related to automobile insurance).
Brief history of Insurance Bureau of Canada
Insurance Bureau of Canada was founded in 1964. For more than five decades, IBC has worked with governments from coast to coast to help make affordable home, auto and business insurance available to all Canadians.
Leadership at Insurance Bureau of Canada
Celyeste Power – President & CEO
Power started her role as president and chief executive officer of the Insurance Bureau of Canada in January 2023. Prior to this, she served as the bureau’s executive vice-president of strategic initiatives and advocacy.
Power joined IBC in 2014 as manager of media relations. She eventually moved up the ranks, holding several senior leadership positions, including vice-president of IBC Western and chief strategy officer.
Power earned a Bachelor of Arts degree at the University of Ottawa and a Master of Business Administration certificate at the University of Toronto. She is now working toward her Chartered Insurance Professional designation.
Culture at Insurance Bureau of Canada
In June 2019, IBC showed how serious it is about addressing the issue of insurance fraud – particularly auto insurance fraud – though the association added that it needs help from everyone involved.
IBC’s former CEO Forgeron was invited to serve as keynote speaker for the Ontario Association of Chiefs of Police Annual Meeting in the summer of 2019 and in his speech, he underlined that the issue of auto insurance fraud is everyone’s problem, not just the insurers’.
“I know you’ve all got a lot on your plate. You’re being pulled in a lot of different directions – and there are never enough resources for all the tasks at hand. You need to make choices. You need to prioritize what’s in the public interest,” he said. “But I also know this: Fraud is an attack not only on insurance companies, but on you and your people. It’s an attack on consumers and society at large. Many of these criminals seek to waste your time – and your resources.”
Forgeron noted that the IBC has been working with law enforcement on several initiatives to combat fraud – an issue that’s not only limited to Ontario, but the rest of Canada as well. Specific to Ontario, the bureau has partnered with the OPP to launch an education and awareness campaign to enlighten drivers about the dangers of fraud. IBC also has a program that trains law enforcers on the latest trends in vehicle thefts.
IBC has a three-point approach to tackling the national issue of auto insurance fraud, which include the following:
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