The sudden departure of Randy Carroll as CEO from the
IBAO have many asking why, and many more remembering his contribution to the association.
The association’s executive committee announced that Carroll “has moved on from his role as CEO” of the IBAO “effective immediately.”
“We wish to thank Mr. Carroll for his significant contributions to the Association, and the industry as a whole,” IBAO president Chris Floyd told
Insurance Business, “over his career with the IBAO and wish him well going forward.”
CEO Colin Simpson, former CEO of Independent Broker Resources Inc. (IBRI), has been appointed to replace Carroll on an interim basis.
One broker, Bill Steele of C.M. Steele Insurance Brokers in Port Colborne, Ont., remembered Carroll’s greatest achievement was making the association a heavy-hitter at the provincial level.
“A huge loss to the independent brokers. Randy brought our association back to something that government and our industry partners took seriously,” said Steele. “He helped the IBAO make many positive changes to better us as brokers and I wish him the best in his future endeavours.”
Another broker, Neil Whetham of Parry Sound Insurance Brokers Ltd., characterized the announcement as “a very dark day indeed.
“Mr. Carroll’s departure will leave a huge void in our industry,” said Whetham. “Dare I say he was an ambassador?”
Although the reasons for Carroll’s departure have not been released, one
Insurance Business source has ruled out any health-related issues.
Carroll joined the IBAO in 2002 as Director of Operations and was promoted to Chief Operating Officer in May, 2005 where he was responsible for the day-to-day operations of the association. (continued.)
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At the Annual General Meeting of the association held in April, 2007, Carroll was promoted to the position of Chief Executive Officer, overseeing the day-to-day operations of IBAO, later becoming President of Independent Broker Resources Inc. (IBRI), a wholly owned subsidiary of IBAO.
Carroll is no stranger to IBAO or the insurance industry, having spent over 20 years as a RIBO licensed broker in the property & casualty business as a brokerage owner and later a personal lines manager in London, Ont. prior to joining the IBAO team.
As a broker volunteer, Carroll represented the London area brokers for three years as President of the London Insurance Brokers Association (LIBA) before taking a seat on the IBAO Board of Directors as a Territory Director. He sat on the Education Group in 2001 serving as Chairman of the Education Committee from October of that year until April of 2002.
When Carroll joined the association in 2002, membership was just over 8,470 with a staff of 12. Today, IBAO serves over 12,500 members with seventeen full-time staff and considerably more outsourced support providing increased services to its members.
As Chief Executive Officer, Carroll was involved in various committees of the Financial Services Commission of Ontario (FSCO),
Insurance Bureau of Canada (IBC), Facility Association (FA) and liaised with RIBO, insurers and industry stakeholders on a regular basis. He also worked on behalf of the independent broker heading the Political Action Committee for the National Insurance Conference of Canada.
In addition, he also sat on the Content Advisory Committee of Canadian Insurance; participated in WICC as part of Team IBAO and sat on the Canadian Crime Victim Foundation’s Board where IBAO plays a major role in CCVF’s annual gala.
At last year’s annual gala, Carroll was one of the recipients of The Queen’s Jubilee Award.
