The Insurance Bureau of Canada (IBC) has swooped Travelers Canada president and CEO Heather Masterson as the new chair of its board of directors.
Masterson brings over 25 years of industry experience, market and broker expertise, and executive leadership to the IBC board. She joined Travelers Canada in 2015 as its chief operating officer (COO) and became the company's president and CEO a year later. Previously, she was the president and CEO of Totten Insurance Group and a senior executive at Hub International and AIG.
In addition, Masterson is a founding member of the Insurance Super Club Canadian Chapter and Advisory Board, where she is currently a supporter and a global ambassador for the chapter and board. Previously, she was the president of the Insurance Institute of Ontario and served on the General Insurance Statistical Agency board for four years. She was also a board member of the Women's Brain Health Institute for two years.
Aside from joining the IBC board as its new chair, Masterson is the chair of the Insurance Institute of Canada's national board and a board member of the Property and Casualty Insurance Compensation Corporation and Équité Association.
IBC president and CEO Don Forgeron said Masterson's leadership will enable the association to advance its strategic priorities with communities, stakeholders, and governments across the country.
“In her new role as chair, Ms. Masterson brings a wealth of experience and knowledge to IBC,” Forgeron said. “We look forward to working with her to reach our goals of helping consumers and keeping Canada's insurance industry strong and robust.”
Masterson commented: “I'm proud of our industry and the work we do to protect Canadians from coast to coast. As the voice of Canada's property and casualty insurance industry, IBC is uniquely positioned to help address shared challenges and forge solutions to pressing issues. Through IBC, the industry will continue engaging governments and stakeholders across Canada to drive changes that will benefit Canadian businesses and consumers. I look forward to continuing this important work and representing the shared values of our industry.”
Aside from the leadership change, this month saw IBC welcome Tokio Marine Canada (TMC) to its industry association as a new member.